Cindrigo is a London-listed (LSE: CINH) renewable energy developer building a high capacity, clean baseload power generation portfolio across Europe. The current portfolio includes around 500 MW of combined heat and power (CHP) assets, comprising a 110 MW biomass plant in Finland and approximately 400 MW of geothermal resources across three projects in Germany. We also maintain an active development strategy with several additional renewable energy projects and licences under evaluation. Our vision is to create shareholder value by delivering clean baseload power solutions that meet rising energy demand while improving environmental outcomes.
Utilising proven technology and expertise, Cindrigo is building a strategic clean energy portfolio to meet Europe’s rising demand for sustainable baseload energy and to replace existing fossil plants.
Our Kaipola waste-to-energy plant in Finland commenced small-scale heat production in December 2024 and plans to reach around 40 MW of CHP output during 2026, increasing to full capacity as new customers are secured. Kaipola is expected to become a key asset in Cindrigo’s renewable energy strategy, providing a stable revenue and cash flow base to support the company’s expansion into Germany’s growing geothermal sector.
Cindrigo holds 85 percent ownership of three geothermal development projects, with an estimated combined heat and power resource potential of circa 400 MW, as well as additional lithium extraction potential of around 1,000 tonnes per annum. Each project will be developed in stages, gradually increasing output through four phases: initial heat production for municipal district heating and process industry, followed by lithium production, power production to the electricity grid, and finally additional wells drilled based on data from initial production.
To deliver on our growth strategy, we plan to use a combination of internal income, grants and state funding, and debt finance – enabling flexible, scalable expansion with strong value fundamentals, in stable and supportive jurisdictions. By allowing expansion to occur organically – in line with technological advances and market demand – we create steady growth over time, with a focus on a cleaner, more sustainable energy future.
The past 12 months have been highly formative for Cindrigo. We commenced initial heat production at our waste-to-energy facility in Kaipola, Finland, and are now ready to start up combined heat and power production, thereby generating a solid, ongoing revenue and cash flow. We also acquired a majority interest in three geothermal development projects in Germany and completed an IPO on the Main Market of the London Stock Exchange.
As a result, we now hold a robust portfolio that combines near-term revenue generation with controlled development opportunities in stable jurisdictions with exemplary regulatory frameworks. In addition, our public listing provides broader access to institutional capital to fuel our active growth strategy. Our focus is now on realising the near-term revenue potential of our assets and continuing to deliver value to stakeholders.