Kilk Leaves Eesti Energia Board After 'Embarrassing' Project
On Thursday, Minister of Finance Jürgen Ligi, whose ministry recently took over responsibility of Eesti Energia, accepted supervisory board member Rein Kilk's resignation in light of the failed Painküla energy project, which Ligi called "embarrassing."
Eesti Energia had spent two years and 4.3 million euros building a coproduction plant in Painküla that was ready to be opened last fall. However, there was no longer anyone to provide power and cooling services to as the Werol canola oil factory, owned by Kilk, had gone bankrupt in the meantime.
Last year, Werol was taken over by Baltic Agro, a Danish-funded enterprise. But as gas prices have tumbled, the new owners decided on using their own, gas-powered plant, leaving Eesti Energia in limbo.
Kilk will be replaced by Olari Taal, former interior minister and Hoiupank CEO, Eesti Energia said in a press release.