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Lithuanian watchdog okays merger of Nelja Energia, Eesti Energia renewable energy arm

Estonian news - eteap August 7, 2018

Baltic News Service. 7th of August, 2018

Lithuania’s Competition Council announced on Monday that it has allowed Enefit Green, renewable energy subsidiary of Estonia’s state-owned energy group Eesti Energia, to acquire 100 percent of the shares in Nelja Energia, operator of wind farms in Estonia and Lithuania.

The permission to continue concentration was issued Sunday on the basis of a request received on July 5.

The competition authority of Latvia endorsed the deal on July 11, while the competition watchdog of Estonia in mid-July asked for extra time to handle the request.

Eesti Energia is buying Nelja Energia for 289 million euros and will also take over Nelja Energia‘s liabilities worth 204 million euros. It is acquiring Nelja Energia from Norway’s Vardar and other investors.

Lithuania’s state-run energy group Lietuvos Energija also vied for Nelja Energia.

Nelja Energia, operating under the 4energia brand, has 17 wind turbines with a total installed capacity of 287 megawatts. The company also holds minority stakes in two biogas and heat cogeneration plants in Estonia and owns a pellet plant and a cogeneration plant in Latvia.

After the acquisition of Nelja Energia, the renewable energy output of Enefit Green will almost triple from the present 0.4 terawatt-hours to more than one terawatt-hour. In 2017, Enefit Green produced 372 gigawatt-hours of renewable energy.

Enefit Green owns four wind farms with a total installed capacity of 111 megawatts, three cogeneration plants in Estonia and Latvia, one hydroelectric power plant and one solar power plant. Enefit Green produces energy from wind, biomass, water, mixed household waste, and sun.

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