Elenger completes acquisition of EWE Group’s Polish energy businesses
Elenger, the largest privately-owned energy company in the Baltic-Finnish region, has received approval from the Polish competition authority to acquire EWE Group’s Polish business operations including a natural gas distribution network in Western Poland and all business lines of energy sales. The transaction volume amounts to 120 million euros, which is the largest known investment of Estonian origin in Poland.
Completion of the acquisition of EWE’s Polish businesses in Warsaw on December 19, 2024
“Elenger is a growth oriented company. We consider the Polish market important and aim to offer customers the best distribution and energy sales services. Our core product and competence is natural gas – long-term experience in the field of liquefied natural gas (LNG) and a focus on selling natural gas of Western origin have earned us the trust of our customers. The energy portfolio must be diversified and varied; we see the role of gas today and in the future as a partner to renewable energy,” said Margus Kaasik, Chairman of the Management Board of Elenger Grupp.
A supervisory board will be formed to manage Elenger Polska, chaired by Andres Trink, who previously led one of the largest construction companies in the Baltic region, Merko. Krzysztof Noga will continue as the Chairman of the Management Board.
“EWE Polska has proven in recent years that it is able to exploit the potential of the country’s economic growth and the opportunities offered by the Polish gas and electricity market. The development of our infrastructure is driven by one of the most dynamically developing regions in Poland, and gas is an important basis for the country’s energy transformation. The Polish market has one of the largest biomethane production potentials in Europe. We see this as an additional impetus for dynamic growth and sustainable value creation. This transaction opens a new chapter for the company,” said Krzysztof Noga.
“The completion of this transaction is a significant step not only in Elenger’s international expansion strategy but also in promoting energy independence in the Baltic region. The dynamic growth of the Polish market and its biomethane production potential open new opportunities for sustainable development. We are ready to share our extensive experience and expertise to provide top-quality services and customer care in the Polish market, while also adopting best practices from EWE Polska to benefit our clients in Latvia,” said Dāvis Skulte, Chairman of the Management Board of Elenger in Latvia.
After the acquisition, EWE Polska companies will adopt to Elenger brand, with the new names being Elenger Polska Sp. z o.o., Elenger Dystrybucja Sp. z o.o., and Elenger Serwis Sp. z o.o. The new business names will take effect upon registration in the Business Register, customers will be notified of the change in due time and manner.
Elenger is the largest privately-owned energy company in the Baltic-Finnish region, operating in six markets – Finland, Estonia, Latvia, Lithuania, Poland, and Germany – and serving over 400,000 customers. Elenger’s activities cover the entire spectrum – energy sales and trading, energy infrastructure, and energy production.
Elenger offers customers natural gas of Western origin as well as renewable biomethane, and manages gas distribution networks in Estonia and Latvia, with a total length of 7,000 km. The company also sells electricity, including green electricity produced in its own solar parks. Elenger is actively involved in international energy trading. The group employs 900 people. Last year, the company’s turnover reached 1.022 billion euros. Elenger is 100% owned by the investment company Infortar, listed on the Baltic Main List of Nasdaq Tallinn.
EWE Polska is the second-largest privately-owned network operator in Poland, managing a 2,316 km long natural gas distribution network in Western Poland, mainly in the Lubuskie Voivodeship, and serving over 25,000 customers. In addition to managing infrastructure, the company sells natural gas and electricity, with energy sales reaching 1.2 TWh last year.
EWE is an innovative service provider operating in the fields of energy, telecommunications, and information technology. With more than 10,800 employees and sales revenue of 10 billion euros achieved in 2023, EWE is one of Germany’s largest utility companies. The company’s headquarters are located in Oldenburg, Lower Saxony, and it is primarily owned by local municipalities. EWE supplies electricity to about 1.4 million customers in Northwest Germany, Brandenburg, and the island of Rügen, as well as parts of Poland, and gas to 0.7 million customers. Telecommunications services are also offered to 0.7 million customers. EWE plays a leading role in climate protection and digital inclusion. In the coming years, the EWE Group will invest in expanding electricity networks and fiber-optic infrastructure, erecting new wind turbines, and pioneering the development of hydrogen infrastructure. More information about EWE can be found at www.ewe.com.
