Morgan Stanley Infrastructure Partners (MSIP), a business within Morgan Stanley Investment Management, has sold its 50% interest in Höegh Evi Ltd. to funds managed by Igneo Infrastructure Partners. The Høegh Family, with roots in international shipping dating back to 1927, will maintain its 50% stake in the company. This is a major step in the clean energy infrastructure space for Höegh Evi as it continues to push for solutions in global energy transition.
MSIP transformed what was once known as Höegh LNG into what is now Höegh Evi, a critical entity in the Floating Storage and Regasification Unit (FSRU) and Liquid Natural Gas Carrier (LNGC) markets. The firm has led innovation in clean energy, especially in sectors like Carbon Capture and Storage (CCS) and infrastructure for ammonia and hydrogen sectors. The rebranding of Höegh LNG to Höegh Evi in 2024 marked this transition towards multi-energy infrastructure, reflecting its clean energy ambitions and focus on hybrid solutions.
One of the company’s groundbreaking strides towards hybrid FSRUs, scheduled to be operational by 2028, serves as an example of supporting the global energy transition. Units will be able to import both LNG and hydrogen simultaneously and thereby resolve the gap between the existing fossil fuel dependencies and the future renewable energy. Ensuring nations’ energy security in the process, they actively transition towards sustainability.
Alberto Donzelli, Managing Director and Co-Head of Europe for MSIP, highlighted the journey of transformation experienced by Höegh Evi under MSIP’s stewardship. “Since acquiring Höegh Evi, we have supported the company to further strengthen its position as the market leader in the FSRU segment providing critical long-term LNG regasification capacity while enhancing vital energy security for nations across the world,” he explained. Donzelli also noted that the sale aligns with MSIP’s strategy to partner with family shareholders, creating substantial value for investors while fostering innovation and sustainability.
The strategic ownership transfer to Igneo Infrastructure Partners paves the way for Höegh Evi into its next step of growth for clean energy. Igneo will bring additional know-how and means to support these ambitious goals and will ensure Höegh Evi continues at the forefront both in terms of energy security as well as globally in the transformation towards sustainable energy solutions.
Höegh Evi has had several milestones in its history that will help it to the future. First, in 2021, the corporation was delisted from the Oslo Stock Exchange, indicating a change in the general direction of its strategy. In the next year, MSIP privatized Höegh LNG Partners LP, a subsidiary company from the New York Stock Exchange, toward full consolidation. The defining rebranding to Höegh Evi in 2024 sealed the company’s legacy as a leader in clean energy innovation, having evolved from more traditional LNG infrastructure to hybrid offerings that integrate technologies of renewable energy.
Another value created through collaboration is the collaborative partnership,” noted Markus Hottenrott, Chief Investment Officer for MSIP. “Höegh Evi is another example of how MSIP’s ability to partner and collaborate with family shareholders provides differentiated sourcing capabilities that can create substantial value for our investors,” he stated.
Höegh Evi is playing a more critical role as the global demand for energy security increases. The company’s FSRUs and LNG regasification capacities have become very essential in ensuring continuous energy supplies for nations worldwide. Its clean energy initiatives, particularly its focus on hydrogen and ammonia, make it a leader in the sustainable energy transition.
The sale of MSIP’s stake to Igneo Infrastructure Partners marks a new chapter for Höegh Evi, ensuring its continued innovation and leadership in clean energy infrastructure. By combining Igneo’s infrastructure expertise with the Høegh Family’s decades of industry experience, Höegh Evi is poised to strengthen its global impact, driving both energy security and the transition to sustainable energy solutions. This marks a related industry-wide trend toward investment in new technologies as a basis for balancing short-term energy demands against long-term goals of environmental protection.
The journey of Höegh Evi constitutes an example of the transformative power of collaboration between private equity, family shareholders, and infrastructure specialists. In a world that continues to face the challenge of energy security and the claims of climate change, Höegh Evi shines out as an innovation and resiliency beacon opening the way towards a cleaner and more sustainable future.