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Estonian finmin: Minority holding in Enefit Green could be listed in 2019

Estonian news - eteap June 4, 2018

Baltic News Service. 4th of June, 2018

The 49 percent holding in Enefit Green, the green energy subsidiary of the Estonian state-owned energy company Eesti Energia which announced it would buy the wind energy company Nelja Energia, could probably be listed on the stock exchange next year, Finance Minister Toomas Toniste told the daily Eesti Paevaleht.

“The goal is to carry out the IPO of Enefit Green as soon as possible,” Toniste said, adding that the Competition Authority would first have to give its consent, the companies have to be merged well and preparations for the IPO have to be made, and it takes time.

“It could possibly take place in the first half of next year,” the minister said. He added that the present plan is to privatize 49 percent of the company but he is not ruling out that in the future the whole company could be privatized.

Eesti Energia announced last week that its subsidiary Enefit Green is to buy Nelja Energia, a renewable energy producer and developer in the Baltic countries, for 289 million euros.

Nelja Energia owns 17 wind farms in Estonia and Lithuania with total capacity of 287 megawatts. In addition, the company owns a pellet factory and combined heat and power plant in Latvia and has minority ownership in two biogas stations in Estonia. Nelja Energia produced 761 gigawatt-hours of electricity from wind in 2017.

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