Northern European district heating company relaunches as Gren
From July 5th 2021, Fortum’s heating & cooling business in the Baltics, recently acquired by Partners Group, a leading global private markets firm, acting on behalf of its clients, relaunches as Gren, the Northern European green energy company. Gren focuses on developing and providing sustainable energy solutions, primarily district heating, using renewables and local resources to meet local communities’ needs and provides comfort for their daily lives while also having a positive impact on the environment.
Matti Viljo, Chairman of the Board of Gren, is pleased to introduce Gren. “We are a new brand, and at the same time, our customers, partners and other stakeholders know us very well as our companies have been in the Baltic energy market for several decades. We will continue all our operations and will serve all our customers with the same services and offerings. We are determined to widen the services and to grow even greener together with our customers.” – said Matti Viljo.
The relaunch as Gren is the first step in a strategy that seeks to transform the company from a portfolio of attractive district heating assets into an independent customer-centric residential and industrial energy solutions provider. Partners Group will draw on its extensive experience in building out infrastructure platforms to grow the asset through new greenfield projects and targeted strategic acquisitions. Other transformational initiatives will include extending Gren’s heating networks to develop new heating and cooling solutions for industrial and commercial customers.
In Estonia, Gren provides clean and reliable district heating produced in biomass combined heat power plants from local and renewable resources to approximately 1’900 customers and 72’000 end-users in Tartu and around 890 customers and 19 000 end-users in Pärnu. Customers in Pärnu and Tartu are also provided with environmentally friendly district cooling produced in modern district cooling plants from rivers’ water. Other Gren’s services in Estonia include steam and direct electricity for industrial customers.
In Latvia, Jelgava, Gren provides reliable and sustainable district heating produced in a biomass combined heat and power plant from local renewable resources to approximately 16 000 households and 173 business customers, including schools, public buildings, and businesses, as well as providing services for individual heat substations for housing associations, individual houses, and business customers. In Daugavpils, Gren provides competitive and efficient heat to the city’s district heating operator.
In Lithuania, Gren serves the district heating companies of the cities of Klaipeda and Kaunas with sustainable heat energy produced in waste-to-energy combined heat and power plants as well as from biofuels. In Joniškis and Švenčionys, Gren serves its customers – residents and businesses – with efficient and sustainable district heating produced mainly from local biofuels.
Gren will continue all the operations and services previously provided by Fortum’s heating & cooling businesses in the Baltics. The change does not affect the customers, partners, other stakeholders, or the prices of Gren’s services and products.