Eesti Energia intra-group mergers

Eesti Energia to consolidate electricity business under subsidiary Enefit

Eesti Energia AS announces that starting from 2026, all electricity-related business activities - including retailsales, renewable energy production, energy trading and development, but excluding non-renewable electricity production and reserve power units - will be consolidated into one subsidiary - Enefit OÜ. The reorganisation aims to strengthen the Group's competitiveness and improve management efficiency.

The creation of a strong, integrated electricity business forms part of Eesti Energia's strategy to streamline the Group's governance model and enhance profitability following the sucessful takeover of Enefit Green AS.

As part of the reorganisation, subsidiaries Enefit Green AS and Enefit AS will be merged into Enefit OÜ. In addition, central business units currently within Eesti Energia AS, such as energy trading, will be transferred to Enefit. In 2026, the merger of Enefit Green and Enefit entities will be extended to Latvia, Lithuania and Poland, creating a unified structure under the Enefit name across the Baltic and Polish markets.

Following the consolidation, Enefit will serve more than 560,000 retail customers across the region and integrate 1,200 MW of renewable generation capacity currently operated by Enefit Green, as well as assets such as the Auvere battery storage and Iru cogeneration plant, alongside future production and storage facilities.

In the industrial sector, Enefit Solutions, which specializes in maintenance of the thermal power units and oil production facilities, will be merged with Enefit Industry, which produces liquid fuels. Enefit Power, which operates reserve power plants, will become a subsidiary of Enefit Industry.

The changes will not affect Elektrilevi, the independent distribution network operator owned by Eesti Energia.

The reorganisation will not affect customers of Eesti Energia's subsidiaries.

All of the subisidaries will remain 100% owned by Eesti Energia AS.

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Danel FreibergHead of Treasury and Financial Risk Management

Eesti Energia ASLelle 22, 11318 Tallinn 

Phone: +372 5594 3838Email: [email protected]