Gren continues expansion in Lithuania
Gren has completed the acquisition of a company operating heat production and supply businesses in four cities in Lithuania.
UAB Gren Lietuva has finalized the deal with E energija group, controlled by UAB E energy invest, and has acquired UAB Šiluma miestams, which manages heat production and supply companies in Akmenė and Trakai districts, as well as independent heat producers in Vilnius and Visaginas. This transaction is part of Gren’s growth strategy. The newly acquired companies supply approximately 204 GWh of heat energy per year, with a total production capacity of 112 MW, and employ 91 employees.
Vitalijus Žuta, Country Head of Gren Lietuva, says: “From the very beginning of our activities in the Baltic countries, we were striving to offer green energy based on local renewables and waste. We strongly continue our green growth by acquiring additional assets that produce over 90% of the energy from biomass. We will continue all operations and obligations to our clients, employees and partners while adding more effectiveness and innovations to our joint businesses”.
The acquired companies will be integrated into Gren’s structure and operate under the Gren brand. Currently, Gren’s energy companies are active in seven Lithuanian cities: Joniškis, Klaipėda, Naujoji Akmenė, Švenčionys, Trakai, Vilnius, and Visaginas. The total heat production capacity of these companies is 248 MW. There are 189 employees working in Gren’s Lithuanian entities.
The change of ownership and brand will not have any impact on the existing contracts with clients and partners, nor service prices.
About UAB Šiluma miestams
UAB Šiluma miestams manages UAB Akmenės energija, UAB Trakų energija, UAB Kirtimų katilinė, UAB Karlų katilinė and UAB Šilo katilinė, operating in Naujoji Akmenė, Akmenė, Venta, Kruopiai, Papilė, Trakai, Lentvaris, Vilnius, and Visaginas.
Gren is a Northern European green energy company with the purpose to energize the future today. We are developing and providing energy solutions that range from sustainable district heating to renewable and industrial energy to meet the daily needs of our customers and communities. We strive to be a partner for progress for each and every customer and support them to reach decarbonization goals together. Gren is currently operating in Estonia, Finland, Latvia and Lithuania and has ambitious growth plans to expand business by actively searching for new efficient solutions and growth opportunities beyond the existing businesses. For more information, please visit www.gren.com or follow us on LinkedIn.
About E energija group
E energija group has been managing renewable energy sector companies since 1994, developing wind and solar power generation projects, as well as biofuel-based electricity and heat production projects. After successfully developing and building 78 MW wind power parks last year, the E energija group’s companies are currently constructing a 300 MW wind power plant in the Kelmė district. In total, over the next 5 years, the company aims to create a portfolio of up to 2,000 MW of wind, solar, and hybrid projects in Lithuania and neighbouring countries. Following the deal with Gren, the E energija group will oversee the operation of a biomass cogeneration power plant in Klaipėda and heat supply activities in the Klaipėda Free Economic Zone. Additionally, they have engineering companies that export biofuel boiler equipment and services to the Lithuanian, Polish, and Scandinavian markets.