EWE Polska is the second-largest privately-owned network operator in Poland.

The company operates a natural gas distribution network of 2,316 km in western Poland, mainly around Poznan, serving over 25,000 clients. Additionally, the company sells natural gas and electricity, with energy sales totaling 1.2 TWh last year.

Ain Hanschmidt, chairman of the council of Eesti Gaas, said the company wants to expand beyond the Baltic-Finnish region into Central and Western Europe.

"The acquisition of an energy company in Poland provides us with the necessary momentum in this large and important growing gas market, while also ensuring an additional steady cash flow for the company's shareholders," he said in a statement.

Stefan Dohler, chairman of the EWE AG board of management, said the company wants to focus on investing "in a climate-neutral and more digitalized energy future."

"This means that we are also making portfolio decisions. EWE Polska complements the core business and growth ambitions of Eesti Gaas, so that the change of ownership opens up new growth opportunities for the company on the Polish energy market," he said.

The transition must still be approved by the Polish Competition and EWE AG board of directors.

EWE is one of the largest utility companies in Germany providing electricity, natural gas, and telecommunications services to almost 3 million customers in Germany and Poland.

Eesti Gaas is the largest privately-owned energy company in the Baltic-Finland region.

--

Follow ERR News on Facebook and Twitter and never miss an update!