Elenger completes acquisition of EWE Group’s Polish energy businesses
Elenger, the largest privately-owned energy company in the Baltic-Finnish region and part of Infortar group, has received approval from the Polish competition authority to acquire EWE Group’s natural gas distribution network and energy sales operations in western Poland. The transaction amounts to 120 million euros, making it the largest known Estonian investment in Poland.
Completion of the acquisition of EWE’s Polish businesses in Warsaw on December 19, 2024
“Infortar continues to expand in the energy business – we are acquiring a functioning organization and opening a new gas market that is four times larger than our home region in the Baltic-Finnish area, along with opportunities in Europe’s fastest-growing economy. The acquisition of EWE’s companies creates a very strong platform for the further growth of Infortar and Elenger,” said Ain Hanschmidt, Chairman of the Management Board of Infortar.
“Elenger is a growth oriented company. We consider the Polish market important and aim to offer customers the best distribution and energy sales services. Our core product and competence is natural gas – long-term experience in the field of liquefied natural gas (LNG) and a focus on selling natural gas of Western origin have earned us the trust of our customers. The energy portfolio must be diversified and varied; we see natural gas and bimoethane as partners to renewable energy, both today and in the future,” said Margus Kaasik, Chairman of the Management Board of Elenger Grupp.
The acquired Polish companies will be using Elenger brand. A six-member supervisory board will be formed to manage Elenger Polska, chaired by Andres Trink, who previously led Merko, one of the largest construction companies in the Baltic region. Krzysztof Noga will continue as Chairman of the Management Board.
“The rapid development of Infortar and Elenger is impressive and inspiring. The addition of EWE’s Polish businesses is a crucial cornerstone for continued growth. Following the change of ownership, it is important to establish good cooperation with other units of the group and maintain a focus on customer service and expanding the customer base and partnerships. I am pleased that, together with the company’s strong team, I can contribute to the realization of Infortar and Elenger’s ambitions in Central Europe,” commented Andres Trink.
Elenger is the largest privately-owned energy company in the Baltic-Finnish region, operating in six markets – Finland, Estonia, Latvia, Lithuania, Poland, and Germany – and serving over 400,000 customers. Elenger’s activities cover the entire spectrum – energy sales and trading, energy infrastructure, and energy production.
Elenger offers customers natural gas of Western origin and domestic green gas, 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 involved 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, listed on the Baltic Main List of Nasdaq Tallinn.
EWE Polska is the second-largest privately-owned network operator in Poland, managing a 2,316 km long natural gas distribution network in Poland, and serving over 25,000 customers. In addition to managing infrastructure, the company sells natural gas and electricity, with energy sales reaching 1.2 TWh last year.
EWE is an innovative service provider operating in the fields of energy, telecommunications, and information technology. With more than 10,800 employees and sales revenue of 10 billion euros achieved in 2023, EWE is one of Germany’s largest utility companies. The company’s headquarters are located in Oldenburg, Lower Saxony, and it is primarily owned by local municipalities. EWE supplies electricity to about 1.4 million customers in Northwest Germany, Brandenburg, and the island of Rügen, as well as parts of Poland, and gas to 0.7 million customers. Telecommunications services are also offered to 0.7 million customers. EWE plays a leading role in climate protection and digital inclusion. In the coming years, the EWE Group will invest in expanding electricity networks and fiber-optic infrastructure, erecting new wind turbines, and pioneering the development of hydrogen infrastructure. More information about EWE can be found at www.ewe.com.
