Elenger invests €60 million in Poland
Elenger, the largest privately owned energy company in Finland and the Baltics and part of the investment group Infortar, will invest €60 million in its gas business in Poland. The investment is financed by Poland’s major banks mBank and Bank Pekao S.A.
Completion of the acquisition of EWE’s Polish businesses in Warsaw on December 19, 2024
“We continue to expand our international operations and strengthen our position in the Polish market, one of the fastest-growing economies in Europe. A year and a half ago, we acquired a natural gas sales and distribution company in Poland for 112 million euros, and now, as the next step, we aim to further strengthen and expand our activities in Poland,” said Margus Kaasik, Chairman of the Management Board of Elenger Group.
“When acquiring Elenger Polska, we committed to scaling our business in terms of gas sales and distribution services, using the potential of the Polish gas market. The outcome of the past year confirms that we made good decisions. In addition to gas sales and distribution, we are now also exploring opportunities to invest in gas production, i.e. renewable energy, in Poland,” said Kaasik.
Elenger Polska is the second-largest privately owned network operator in Poland. The company manages a 2,316 km natural gas distribution network and serves more than 25,000 customers. In addition to infrastructure management, the company is engaged in the sale of natural gas and electricity.
Elenger is the largest privately owned energy company in the Baltic and Finnish region, operating across the entire energy value chain – from trading and production to delivery to end consumers. The company has over 450,000 customers and employs more than 1,000 people.
Elenger supplies customers with Western-origin natural gas and renewable biomethane and manages gas networks in Estonia, Latvia, and Poland with a total length of 9,000 km. The company also sells electricity, including green power produced in its own solar parks, and is actively engaged in international energy trading. Elenger is owned by the investment company Infortar, which is listed on the Nasdaq Tallinn Baltic Main List.
Infortar operates in seven countries, with its core business areas being maritime transport, energy, and real estate. The company holds a 68.76% stake in AS Tallink Grupp, owns 100% of AS Elenger Grupp, and manages a diversified and modern real estate portfolio comprising approximately 141,000 square metres. In addition to its three core business areas, Infortar is active in agriculture, civil engineering, construction materials, printing, and several other sectors. The Infortar Group consists of 107 companies, including three associates and two subsidiaries of associates. Excluding its associate companies, Infortar employs 6,288 people.
