On July 5, 2021, we emerged as Northern Europe’s green energy champion, bringing decades of Baltic expertise to the sustainable energy landscape. Four years later, we have evolved into a company that delivers affordable, secure local energy while navigating volatile markets and meeting the growing needs for decarbonization.

“Our secret sauce is simple,” says Ilkka Niiranen, CEO, Gren. “Clear direction, talented people, and the ability to execute.”

Customer growth & satisfaction

When we survey our customers, we are consistently heartened by their positive feedback and high NPS scores, which confirm that our approach resonates with those we serve.

In 2025, customer satisfaction across all three Baltic countries where Gren operates remains consistently high. Estonia leads with 94 index points, which is considered exceptionally high, while Latvia and Lithuania follow closely with 79 and 78 points, respectively.

Customers express intense satisfaction with Gren overall, particularly appreciating the competitive and affordable pricing of the decarbonized district heating we provide.

Similarly, the quality of customer service and personnel is highly appreciated by our customers as well as the clarity and ease of digital channels and invoices. These strengths are key drivers of satisfaction and represent important assets to maintain and communicate.

Beyond metrics, we have become vital partners in strengthening regional competitiveness by ensuring businesses have access to reliable, reasonably priced energy and helping industries and communities weather global uncertainties with locally sourced solutions.

Operational excellence & safety

By optimizing facilities with innovations like flue gas condensers and heat pumps, we’ve extended plant lifetimes while boosting renewable energy production. Each efficiency improvement represents our commitment to sustainability as a daily practice, maximizing value from every resource.

Gren Klaipėda’s Digital Twin solution has been nominated for the CEWEP Technological Innovation Award 2025. This innovative technology enables the creation of a mathematical model for the waste-to-energy plant, facilitating advanced data analysis, process optimization, and real-time decision-making.

In our industry, safety is paramount, and we take pride in maintaining a Safety Index of 98.24. This is the result of rigorous protocols, continuous training, and collaboration that creates a safety culture where every team member feels responsible for the well-being and safety of their colleagues as well as our contractors and partners.

Excellence in safety reflects excellence in all operations.

UK Expansion: Glasgow’s South Clyde Energy Centre

2024 marked our expansion beyond the Baltics with our acquisition of a 50% stake in Glasgow’s South Clyde Energy Centre. This groundbreaking facility will transform 350,000 tonnes of waste into electricity for 70,000 homes while creating the UK’s largest low-carbon district heating network.

The project aligns perfectly with the UK’s net-zero ambitions, showcasing how our approach can complement national energy strategies while addressing multiple environmental challenges simultaneously. The UK has high potential for District Heating driven by high decarbonization needs, high demand for low-cost heat, limited existing DH networks, and untapped low-cost heat sources from centrally located Waste to Energy sites.

Strengthening our Baltic foundations

In our Baltic stronghold, we’ve forged partnerships with industry leaders like Juodeliai, creating a virtuous cycle where wood processing residues are converted into industrial heat. We’ve doubled biomass-based production in Riga through strategic acquisition and invested in additional high-efficiency biomass capacity.

Our environmental vision encompasses ambitious projects, such as the Waste-to-Energy site in Acone, Latvia, scheduled for completion in 2029. The new facility will support Latvia in reaching the ambitious EU target of landfilling no more than 10% of waste by 2035, as well as improve the country’s energy independence. Currently, the project is in the environmental assessment phase.

In 2024, Gren completed the acquisition of Esro, an energy company operating in the Viljandi region, Estonia. The company now continues to provide district heating and electricity services in the area under the names Gren Viljandi AS and Gren Sakala OÜ. Building on a well-maintained local heating network, Gren aims to bring long-term value to Viljandi through reliable, affordable, and efficient energy solutions.

We also launched significant infrastructure upgrades in Estonia, co-funded by European development programs.

Our people: the heart of Gren

Behind these achievements stands our dedicated workforce, which has grown from 270 to over 500 employees over the past four years. As we’ve grown, we’ve welcomed many new colleagues who bring fresh perspectives while embracing our core values of trust, respect, solution orientation and customer focus.

Through regular surveys and feedback sessions, we ensure our team members’ voices help shape our direction. The Engagement Index of our employees reached a very high level of 81%. Additionally, the NPS is exceptionally high, 45, which is considerably above the external benchmark of 15. The majority of our employees believe Gren is on the right path and moving in the right direction, showing high trust in Gren’s leadership.

Looking forward to a bright future

As we look toward tomorrow, we remain focused on our mission: delivering affordable, decarbonized energy using local resources that support energy security for local communities and countries alike. We’re committed to working hand in hand with societies, cities, and governments, driving lasting change in energy production and consumption.

The energy transition presents both challenges and opportunities, and we’re positioned at the forefront of this transformation with our experience, talented team, and proven approach to sustainable development.

To our customers, investors, partners, and employees—thank you for four remarkable years of trust and support! As we progress toward a more sustainable future, we’re grateful for your partnership and excited about the positive impact we’ll continue to create together.