Elektrum Eesti OÜ signed on June 30 an agreement to acquire the shares of Energiaturu Võrguehitus OÜ, SNL Energia 1 OÜ and Baltic Energy System OÜ. The main activities of the companies acquired are the construction, maintenance, and rental of power plants with everything associated with it, helping companies to save on electricity network and connection costs, increase or decrease capacity and rebuild an existing electricity connection according to changing needs. The company manages today 53 MW of electricity connections passing through almost 80 GWh of electricity per year.
“Elektrum is mostly known in Estonia as an electricity and other energy products retail sales company for household and business clients,” said Andrus Liivand, Chairman of the Board of Elektrum Eesti OÜ. “The acquisition of this group of companies is part of the strategy of Elektrum Eesti to expand its operations into new product segments and business lines,” Liivand added.
The consent of the Estonian Competition Authority is required for the transaction to take effect. By agreement of the parties, the price of the transaction remains confidential.
“For 10 years, the group has shown rapid growth and operational readiness to adapt to changing economic conditions,” said Kaspar Sari, Member of the Board of Energiaturu Võrguehitus OÜ. “The transaction gives the present owners an opportunity to focus on new challenges and trends. I am convinced that our current customers will continue to be well-maintained and the ambitious growth strategy of Elektrum Eesti will be of success,” Sari commented.
Elektrum Eesti OÜ is an energy sales company offering its customers not only electricity but also natural gas, solar energy, and electric car charging solutions, as well as energy efficiency and energy home management solutions.
Elektrum Eesti belongs to the Latvenergo Group, which is one of the leading energy suppliers and green energy producers in the Baltics. The group’s companies serve a total of 740 000 customers in the Baltics, and 60% of the group’s energy production comes from renewable energy sources. Elektrum has been operating in Estonia since 2007 and provides services to 28 500 household and business customers.
Andrus Liivand, Chairman of the Board of Elektrum Eesti OÜ
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