Enefit Green

M&A Activity • Dec 18, 2024

Merger between daughter companies

Enefit Green’s supervisory board decided today to give permission to Enefit Green’s management board to carry out a merger during 2025 to combine Tootsi Windpark OÜ (a part of Sopi-Tootsi wind farm), Enefit Wind Purtse AS (a part of Sopi-Tootsi wind farm, Sopi solar farm and Purtse hybrid farm) into Enefit Wind OÜ. Enefit Green AS owns 100% of all three companies. The rationale for the merger is to simplify and optimize Enefit Green’s group structure, combining completed development assets with the entity holding the majority of group’s Estonian production assets.

As all companies are 100% subsidiaries of Enefit Green AS, then the proposed merger does not have any direct impact on the consolidated financial results of Enefit Green AS.

Further information:
Sven Kunsing
Head of Finance Communication
[email protected]
https://enefitgreen.ee/en/investorile/

Enefit Green is one of the leading renewable energy producers in the Baltic Sea area. The Company operates wind farms in Estonia, Lithuania and Finland, 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 and Latvia. 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 the end of 2023, Enefit Green exited the biomass based CHP and pellet production businesses.