Closing of the sale of Paide and Valka cogeneration plants

On 29 November 2023, Enefit Green signed an agreement for the sale of Paide and Valka cogeneration plants to Utilitas, the largest district heating company in Estonia (link to the stock exchange announcement on 29 November 2023).

The transaction has received necessary approvals and has entered into force as of today, 1 March 2024.

Further information:
Sven Kunsing
Head of Finance Communications

Enefit Green is one of the leading renewable energy producers in the Baltic Sea area. The Company operates wind farms in Estonia and Lithuania, waste-to-energy CHP plant in Estonia, solar farms in Estonia and Poland and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries, Latvia and Finland. As of the end of 2023, the Company had a total installed electricity production capacity of 515 MW and a total installed heat production capacity of 50 MW. During 2023, the Company produced 1,343 GWh of electricity, 604 GWh of heat energy and 156 thousand tonnes of wood pellets. In Q4 2023, Enefit Green signed contracts to exit biomass-based CHP and pellet production businesses with the aim of focusing on development and operation of wind and solar farms. As of 1 March 2024, these transactions have been completed.