Nelja Energia

Last updated
Nelja Energia
Type Private
Industry Renewable energy
Founded2005 (2005)
Headquarters
Tallinn
,
Estonia
Key people
Aavo Kärmas (CEO)
Hando Sutter (Chairman)
ProductsElectric power
Biogas
Pellet fuel
Revenue€46.4 million (2016) [1]
€8.9 million (2016) [1]
Parent Enefit Green
Website www.4energia.ee

Nelja Energia AS (also branded as 4Energia) is a renewable energy developer based in Tallinn, Estonia. The main areas of business of the company are the development of the renewable energy industry and the operation of power production. The name of the company, meaning Energy of Four, is referring to the four type of renewable energy: wind, water, biomass and solar. [2] The company is focused on the renewable energy development in the Baltic countries. The CEO of the company is Aavo Kärmas.[ citation needed ]

Nelja Energia owns and operates eleven wind farms in Estonia with the total capacity of 140.8 MW, and four wind farms in Lithuania with the total capacity of 78.9 MW. [3] [4] [5] In addition, the company operates two biogas-fuelled co-generation plants in Estonia. [5] In Latvia, it owns and operates a cogeneration plant and pellet factory in Brocēni. [6] The company plans a 700–1,100 MW offshore wind farm off Hiiumaa, Estonia. [7]

The company operates since 2005. [8] It started as an operator company for the wind farms owned by Vardar Eurus, a company owned by Norwegian Vardar AS (90%) and the Nordic Environment Finance Corporation (10%), and Freenergy, a company owned by Estonian investors and the European Bank of Reconstruction and Development, and it was owned equally by both companies. In 2012, Freenergy merged with Nelja Energia and the current ownership structure was adopted. [2] The main shareholder of Nelja Energia was Vardar Eurus (77%). Estonian private investors owned 23% of the shares. [1]

On 29 May 2018, it was announced that Enefit Green, a subsidiary of Eesti Energia, will acquire 100% of Nelja Energia shares for €289 million. In addition, it will take over €204 million of Nelja Energia loans. [9] [10] The deal was approved and completed in November 2018. [11]

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References

  1. 1 2 3 Cavegn, Dario (2018-01-13). "Norway's Vardar considering selling majority stake in Nelja Energia". ERR . Retrieved 2018-06-03.
  2. 1 2 Tere, Juhan (2012-03-22). "Two wind energy firms merge with Nelja Energia". The Baltic Course. Retrieved 2012-07-12.
  3. ↑ "Estonia's Nelja Energia Opens Third Wind Park in Lithuania". Estonian Review. BNS. 2012-06-06. Archived from the original on 2013-02-13. Retrieved 2012-07-12.
  4. ↑ Tere, Juhan (2012-06-08). "Nelja Energia opens its third wind park in Lithuania". The Baltic Course. Retrieved 2012-07-12.
  5. 1 2 Õepa, Aivar (2012-06-14). "Nelja Energia launches biogas developments". news2biz. Archived from the original on 2013-01-29. Retrieved 2012-07-12.
  6. ↑ Vahtla, Aili (2017-06-15). "Nelja Energia opens first cogeneration plant, pellet factory in Latvia". ERR . Retrieved 2018-06-03.
  7. ↑ Vahtla, Aili (2017-08-01). "Nelja Energia, Hiiu Municipality sign contract to build offshore wind farm". ERR . Retrieved 2018-06-03.
  8. ↑ "Wind Energy Developer Nelja Energia to Merge With Owners". Estonian Review. BNS. 2012-01-25. Archived from the original on 2012-06-08. Retrieved 2012-07-12.
  9. ↑ Whyte, Andrew (2018-05-29). "Eesti Energia acquires bio energy firm in third biggest Estonian deal ever". ERR . Retrieved 2018-06-03.
  10. ↑ "Enefit Green acquires Nelja Energia for €289m". Power Technology. 2018-05-31. Retrieved 2018-06-03.
  11. ↑ "Competition Authority approves Eesti Energia acquisition of Nelja Energia". ERR . 2018-11-07. Retrieved 2019-02-17.
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