Elenger invests EUR 150 million in Latvia and reaches market-leading position with a 16% market share

Entering its tenth year of operations in Latvia, Elenger has become the country’s largest privately owned natural gas company, reaching a share of approximately 16% of the total natural gas market. During this period, Elenger has supplied households and businesses with more than 8.4 billion kilowatt-hours (kWh) of natural gas and electricity.

Gints Brakovskis, izpilddirektors un pārdošanas nodaļas vadītājs 

“To put this into perspective, this is approximately half of the total volume of natural gas and electricity consumed in Latvia over the course of a year. These figures demonstrate that Elenger has become one of the country’s most significant energy market participants, making a substantial contribution to the development of energy infrastructure, renewable energy projects and the strengthening of energy security. Going forward, our goal is to continue investing in solutions that enhance Latvia’s energy security, increase the share of renewable energy and provide households and business customers with a secure and competitively priced supply of natural gas and electricity,” says Gints Brakovskis, Managing Director and Head of Sales of SIA Elenger.

Elenger saules stacija Olainē 

Elenger bateriju parks (BESS) Liepājā 

Elenger saules stacija Nīcā 

Since launching operations in Latvia, Elenger has invested more than EUR 150 million in total. Its largest investment was the EUR 120 million acquisition of Gaso, Latvia’s natural gas distribution system operator. In addition, the company has developed renewable energy projects, including solar power plants and battery energy storage systems in Nīca and Liepāja, and has completed Latvia’s first commercial biomethane, or green gas, transaction, supplying and selling biomethane to a customer.

“The objective of our investments is very practical – to ensure that people and businesses in Latvia have access to secure energy at competitive prices, with an increasing share coming from renewable energy sources. The more self-sufficient and sustainable the energy system is, the more resilient the country becomes in times of crisis and energy price volatility. This is why we invest both in energy infrastructure and in solar power plants and battery energy storage systems, strengthening Latvia’s energy security and reducing dependence on imported energy resources,” emphasises Gints Brakovskis.

Latvia is one of Elenger’s strategically important markets, and with investments of this scale, the company is one of the largest private investors in Latvia’s energy sector. Elenger’s business customers include many of Latvia’s largest manufacturing and district heating companies, as well as major private-sector, state-owned and municipal enterprises.

Elenger is the largest private energy company in the Baltic States and Finland, with operations covering the entire energy value chain, from trading and production to delivery to end customers. The company serves more than 450,000 customers and employs more than 1,000 people.

Elenger supplies its customers with Western-origin natural gas and renewable biomethane and operates gas distribution networks in Estonia, Latvia and Poland, with a combined length of 9,000 kilometres. The company also sells electricity, including green electricity generated at its solar parks, and is actively engaged in international energy trading.

Elenger is owned by investment company Infortar, whose shares are listed on the Main List of the Nasdaq Tallinn Stock Exchange.