Harrison Street Asset Management agreed to acquire a majority equity position in Vicinity Energy from Antin Infrastructure Partners in September 2026. Its announcement valued the company at $2.92 billion in total enterprise value and identified Kenon Holdings as its joint-venture partner for the transaction.
The buyer described Vicinity as a vertically integrated utility platform serving more than 700 customers across approximately 1,000 buildings. The acquisition remained subject to customary regulatory approvals, with closing expected in the first half of 2027. The enterprise valuation describes the whole business and is not the cash amount invested for the majority stake.
Vicinity's eSteam FAQ states that electrification upgrades do not change pricing for customers who continue purchasing conventional steam. Customers who choose eSteam receive a different price from fossil-fuel-generated steam in the near term, so the clean-energy offering is an optional purchase rather than an automatic change for all existing customers.
Customers can choose how much eSteam to purchase and the renewable electricity source used for production. Vicinity presents centralized production and shared distribution infrastructure as the basis for its affordability claims. The public page explains that pricing distinction without publishing a numerical tariff or discount, so it does not support a specific price estimate.
