Renewables Now
Summary
Estonian renewables company Enefit Green AS said on Wednesday that it has agreed to sell its district heating operations in Paide, Estonia, and Valka, Latvia, in an effort to pursue growth in the wind and solar energy sectors in the region.
Estonian renewable power and heat producer Utilitas is set to become the new owner of a group of facilities in a transaction valued at EUR 15.8 million (USD 17.4m) on a cash- and debt-free basis.
Robert Kitt, head of district heating companies at Utilitas, added: “As the largest district heating company in Estonia, we see that both Paide and Valka fit very well into our district heating portfolio with their district heating systems based on renewable sources. These assets have been constantly invested in, they are well managed and in good condition. It is a great pleasure that we will have the opportunity to provide services in these cities in the future.”
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