Sunday , January 29 2023

Enefit Green granted the competition regulators permission to purchase Nelja Energia


Enefit Green is a rapidly growing renewable energy company in the Baltic Sea Region. Four energy resources, portfolio of competences and development projects enable us to become a strong renewable energy company. Our development will not be limited to this transaction – we plan to continue investing in renewable sources of electricity. Given the portfolio of development projects, we have the potential to grow in all the Baltic States and other countries of the Baltic Sea Region where Eesti Energia operates, "says Ave Kärmas, CEO of Enefit Green.

On May 29, 2007, the sale of Nelja Energia shares was signed between the shareholders of Enefit Green and Nelja Energia. The estimated value of shares this year is 289 mln. Enefit Green also pledged to take over Nelga Energia debts of 204 million euros. euro The company Nelja Energia owns 77% of the shares owned by Vardar Eurus (90% of shares are held by Norwegian municipalities, 10% owned by NEFCO) and 23%. shares belonged to Estonian investors.

The Latvian Competition Council approved this deal in July this year, and in August the Lithuanian Competition Council was approved. The deal was concluded on November 7th. permission from the Estonian Competition Authority. The customer was advised by Ellex Raidla, a legal service provider for Swedbank Corporate Finance and consulting firm PricewaterhouseCoopers, and for the preparation and implementation of the ÅF transaction.

Enefit Green, owned by Eesti Energia, is a renewable energy company that produces electricity and heat from wind, water, biomass, solar and municipal waste. After acquiring "Nelja Energia", the active portfolio of Enefit Green is complemented not only by wind power plants, but also by the pellet production plant in Latvia, which is the minority of biogas and wind farms in Estonia. After completion of the transaction, the company will manage the total wind farms in the Baltic States with a total installed capacity of 398 MW.

In addition, the company has a combined heat and power plant with 25 MW of electricity and 85 MW of installed thermal capacity. After this deal, Enefit Green will generate nearly three times more electricity than 1 TWh.

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