Gren has finalized the acquisition process of Bioeninvest – DH system operator in the town of Gulbene, Latvia

Following the fulfillment of customary closing conditions, Gren has finalized the acquisition process of the company Bioeninvest – district heating system operator in the town of Gulbene, located in the Northeastern part of Latvia.

Bioeninvest provides heating produced mainly from local, renewable resources to residential and commercial customers. The company owns a biomass heat and power production plant, several biomass heat only production assets and operates Gulbene’s district heating network.

Andris Vanags, the Country Head of Gren operations in Latvia says: ”Sustainable energy production and district heating is our core business and Gren has a proven track record of being a reliable partner for communities in the journey towards sustainable success. We have been successfully operating in the city of Jelgava since 2008 where we secure our customers – more than 16000 households and 200 B2B customers, with sustainable and price competitive district heating. Our operations in Daugavpils and near Riga are also based on renewable local resources that play a crucial role in today’s geopolitical environment. We are confident that our expertise and international experience will bring a positive development for the town of Gulbene and the customers.”

Gren will continue providing district heating services for Gulbene residents and businesses. The change of ownership and brand does not lead to any changes in the obligations which have been agreed with customers and partners – in the terms of contracts, services and prices.