The wind farms of Enefit Green, the renewable energy company of Eesti Energia, produced 122 gigawatt hours of electricity in March. This result is similar to that of a month earlier – in February, the company’s wind power production was a record-breaking 124 GWh.

Eesti Energia paid 104.8 million euros in tax in Estonia and collected and mediated 94.7 million euros to tax authority, which made the group’s tax footprint 199.5 million euros in Estonia.

The sales revenues of Eesti Energia Group amounted to EUR 875.3 million in the 2018 financial year (+16.1% compared to 2017). Consolidated EBITDA totalled EUR 283.2 million (+7.2% compared to 2017). The Group’s net profit totalled EUR 106.2 million (+5.4% compared to 2017 financial year).

Based on yesterday’s resolution of the Supervisory Council of Eesti Energia, an extension of the term of the service contract of Mr Hando Sutter, the Chairman of Eesti Energia’s Management Board, has today been signed. The extended term of the service contract is March 31, 2023.

On December 21, 2018 Eesti Energia AS’s fully owned subsidiary Enefit Green AS has signed term loan contracts in total amount of 260 million EUR. The contracts were signed on bilateral basis with SEB (200 million EUR) and Swedbank (60 million EUR). The term of the unsecured loans is 5 years, with 7 years repayment schedule. The purpose of the term loans is to refinance the existing debt of Nelja Energia, which was assumed as a result of the recent acquisition, and for general corporate purposes.

In connection with the interim relief applied on a temporary basis with regards to the Nelja Energia deal, Eesti Energia explains that Enefit Green completed the acquisition of Nelja Energia on 6th November 2018 by acquiring 100% of the shares of Nelja Energia after obtaining merger clearance from the Estonian Competition Authority. Consequently, the merger of Enefit Green and Nelja Energia was completed before the submission of the complaint by Skinest, and the implementation of the interim relief by the court on the basis thereof.

On November 7, 2018 Eesti Energia AS’s fully owned subsidiary Enefit Green AS as the buyer, and Vardar Eurus AS and minority shareholders as the sellers closed the transaction relating to the 100% of the shares in Nelja Energa AS, a renewable energy producer and developer in the Baltic countries. Upon closing, Enefit Green AS, a wholly owned subsidiary of Eesti Energia AS, has paid the purchase consideration to the sellers and has been registered as the sole shareholder of Nelja Energia AS in the share register. The share purchase agreement relating to the transaction was signed in May 2018.