Viru Keemia Group has sold its subsidiary VKG Soojus, which provides district heating to the Kohtla-Järve and Jõhvi districts, to the Finnish company Gren, formerly known as Fortum, the newspaper Põhjarannik reported.
The deal gives Gren a 164-kilometre-long district heating network that provides heat to residents, companies and organizations in the Kohtla-Järve, Ahtme, Sompa and Jõhvi districts, the newspaper reported.
In 2011, Gren also acquired a peak-load standby boiler completed in 2011 in Ahtme. The plant uses gas to generate heat but rarely needs to be activated.
The majority of thermal energy is still generated by the two power plants of VKG Energia in Kohtla-Järve, which are mostly fueled by waste gas from shale oil production.
Karita Kivi, marketing manager for Gren Group, said that the change of ownership will not affect consumers.
Existing contracts will be subject to the same terms as previously.
Chairman of the Management Board of the Viru Keemia Grupp (VKG) Ahti Asmann said that the sale of the district heat network company is justifiable because VKG is a chemicals company that focuses primarily on the industrial development of Ida-Viru County.
Gren Grupp provides district heating services in Tartu and Pärnu, where they have build co-generation plants that use bio-fuels.
Editor: Kristina Kersa