Eesti Gaas will become Elenger
The largest privately-owned energy company in the Baltic-Finnish region, Eesti Gaas, will adopt the Elenger brand in Estonia, similar to the markets in Finland, Poland, Latvia, Lithuania, and Germany. The company’s new business name will be AS Elenger Grupp.
Elenger launch in Estonia, 5.12.2024
“Our company has long been more than just ‘Eesti’ and only ‘gas’ – we have grown into an international energy company with a diverse product portfolio, operating, figuratively speaking, from the polar circle to the German border. Most of our revenues and assets are now located abroad. In addition to selling energy, we produce solar electricity and biogas ourselves and manage the distribution network infrastructure,” noted the company’s CEO, Margus Kaasik.
“With the name change, we align the external form with the content. The new name encompasses our entire expanded value proposition – electricity and energy, biogas and LNG – clean natural gas of Western origin, which we supply to the entire region and which has helped us become the market leader,” said Kaasik.
“The new business name is expected to take effect next week when the corresponding entry is made in the commercial register. For customers, the name change will not entail any obligations or inconveniences; all contracts will continue under the existing conditions,” added Kaasik.
Elenger is the largest privately-owned energy company in the Baltic-Finnish region. The international group operates in six markets – Finland, Estonia, Latvia, Lithuania, Poland, and Germany – and serves over 400,000 customers. Elenger’s activities cover the entire spectrum – energy sales and trading, energy infrastructure, and energy production.
Last year, Elenger became a billion-euro company, the third largest by turnover, and won the Äripäev TOP of Estonia’s most successful companies. This year, the company was awarded the title of the most competitive industrial and energy company in the competition of the Estonian Chamber of Commerce and Industry.
For the past two consecutive years, Elenger has made some of the largest foreign investments in Estonia – last year, the group acquired the Latvian gas distribution network for 120 million euros, and this year, it signed a 120 million euro deal with the German energy group EWE to acquire all of its operations in Poland.
Elenger offers customers natural gas of Western origin and domestic biogas and manages gas distribution networks in Estonia and Latvia with a total length of 7,000 km. The company also sells electricity, including green electricity produced in its own solar parks. Elenger is actively engaged in international energy trading. The group employs 900 people. Last year, the company’s turnover reached 1.022 billion euros. Elenger is 100% owned by the investment company Infortar, which is listed on the main list of the Nasdaq Tallinn Stock Exchange.
