Eesti Energia consolidates its production companies

One of Eesti Energia's ageing oil shale power plants. (Peeter Langovits/Postimees/Scanpix)
7/6/2016 3:06 PM
Source: BNS
Category: Business

State-owned operator of Estonia’s oil-shale-fired power plants in the Northeast, Eesti Energia Narva Elektrijaamad, has changed its name to Enefit Energiatootmine and is preparing a merger with the group’s oil production unit.

Eesti Energia Narva Elektrijaamad entered the name change in the commercial register at the beginning of July. At the end of June, the group’s oil shale mining enterprise, Eesti Energia Kaevandused, adopted the name Enefit Kaevandused.

Eesti Energia had stated earlier that it was going to merge its oil industry division with Enefit Energiatootmine to achieve higher efficiency through uniting its two biggest production units. This is part of the company’s new strategy to increase efficiency and lower costs.

The group also announced the merger of its renewable energy operations into a single business in mid-June. The new company will be called Enefit Taastuvenergia. Enefit is a trade mark Eesti Energia has so far used mainly for its ventures abroad.

Editor: Dario Cavegn

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