Following the fulfillment of customary closing conditions, Gren has finalized the acquisition process of a sustainable energy producer in Riga – Rīgas Enerģija. The acquired company will be integrated into Gren’s structure.

Andris Vanags, the Country Head of Gren operations in Latvia comments: “The new addition to our sustainable energy production fleet is in line with Gren’s growth strategy. District heating is our core business and Gren has a proven track record of being a reliable partner for communities. We are excited to expand our sustainable heat production and delivery in Riga and are confident that our expertise and international experience will secure positive added value for Riga community and heat customers.”

The new addition to Gren’s fleet is a biomass combined heat and power plant (CHP) that uses local, renewable energy resource – woodchips, to produce clean and price competitive heat energy and electricity. Built in 2017, the plant has secured reliable heat energy supplies for Riga district heating system increasing the share of renewables used for heat energy production.

The CHP plant in Riga will continue its operations and supplies of competitive and clean district heating produced from local, renewable energy resource – woodchips, to A/S Rīgas Siltums – the operator of Riga district heating system.

The change of ownership and company name will not impact existing contracts with suppliers and partners.