Estonian energy company buys its way to green dominance in the Baltics

With a single purchase, the Estonian energy company Esti Energia will acquire a wind energy portfolio at nearly 400 MW.

Photo: Frank Boutrup Schmidt/Vestas

The Estonian energy company Esti Energia has signed a purchase deal to acquire all equity shares of the project developer Nelja Energia, which, according to Recharge News, is the larger producer of renewable energy in the Baltic countries.

This purchase thus adds Nejja's portfolio of 17 wind farms at 287 MW capacity to Esti's 111 MW, thereby creating a big regional actor with a total of 21 wind farms at approximately 400 MW. Esti Energia is paying a total of EUR 289 million for Nelja in a trade that also includes taking on Nelja's EUR 204 million in debt.

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