Enefit Green

What Enefit Green does

Enefit Green AS is the largest wind energy producer in the Baltic states, operating an integrated renewable energy and retail electricity business headquartered in Tallinn, Estonia. As of 2024 the company generated 1.9 TWh of electricity and 415 GWh of heat from a portfolio of 29 wind farms, 46 solar plants, one cogeneration plant (Iru, processing mixed municipal waste into heat and power), and one hydroelectric facility across five countries (Estonia, Latvia, Lithuania, Poland, and Finland), totalling more than 1,100 MW of operational capacity. The company is targeting 1.2 GW of operational capacity by the end of 2025. Its flagship asset, the 255 MW Sopi-Tootsi wind and solar park in Põhja-Pärnumaa, was officially opened in June 2025 and supplies nearly 10% of Estonia's annual electricity consumption.

The business operates on a hybrid revenue model combining wholesale electricity and heat sales, ancillary grid services (frequency markets via aFRR/mFRR qualification), an EV charging network of more than 1,500 connectors under the Enefit Volt brand, and a unified B2C/B2B retail suite — electricity packages, gas, fiber internet, insurance, and energy audits — distributed under the parent Eesti Energia AS brand. Go-to-market is primarily direct enterprise sales for industrial offtakers, supplemented by digital self-service portals and physical customer service centres in Tallinn and Tartu. Battery energy storage systems (BESS) at Auvere, Purtse, and three Lithuanian sites are increasingly central to monetisation, enabled by the proprietary Algo management software that qualifies solar and storage assets for active participation in balancing markets.

Enefit Green was listed on Nasdaq Tallinn from October 2021 until July 2025, when its parent company, the Estonian state-owned Eesti Energia AS, completed a voluntary takeover acquiring approximately 97.2% of shares and delisted the company. As a private subsidiary of a state-owned utility, the company benefits from group-level balance sheet support (€100 million EBRD loan and a upsized €100 million Swedbank facility secured in 2024) and implicit government alignment, but now operates outside public-market capital discipline. Recent strategic moves have explicitly refocused the portfolio on the Baltics and Poland, including the €83 million divestiture of the Tolpanvaara wind farm in Finland (December 2025) and termination of the Liivi Bay offshore wind partnership with Sumitomo Corporation (August 2025).

Name

Enefit Green

Legal name

Enefit Green AS

Website

https://enefitgreen.ee

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

Enefit Green is the largest wind energy producer in the Baltic states, operating 29 wind farms, 46 solar plants, and storage assets across five countries (1,100+ MW). It serves residential, business, municipal, and wholesale grid customers with electricity, heat, EV charging, and the Algo optimization software.

Ownership category

akta.pro rank

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Electricity Sales: Sale of electricity generated from wind, solar, hydro, and cogeneration facilities to wholesale markets and end customers. Production volume of 1.9 TWh in 2024.
2. Heat Energy Production: Production and sale of heat energy from cogeneration facilities. Production volume of 415 GWh in 2024.
3. EV Charging Services: Public electric vehicle charging network (Enefit Volt) providing charging services across Baltics and Poland with over 1,500 charging connectors.
4. Energy Services: Battery storage management, solar park optimization services (Algo software), and balancing market access for third-party renewable energy assets.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Enefit Green is a renewable energy producer operating 29 wind farms, 46 solar power plants, one cogeneration plant, and one hydroelectric plant across Estonia, Latvia, Lithuania, Poland, and Finland, with operational capacity exceeding 1,100 MW. The company generates and sells electricity (1.9 TWh in 2024) and heat (415 GWh in 2024), operates the Enefit Volt EV charging network with 1,500+ connectors, and provides battery storage and grid balancing services to wholesale markets and end customers.

Product overview

Enefit Green operates as an integrated renewable energy company with a multi-product portfolio spanning energy production, distribution, and retail services. The company's core business includes 29 wind farms (1,100+ MW operational capacity), 46 solar power plants, battery energy storage systems, one cogeneration plant, and one hydroelectric plant across five countries (Estonia, Latvia, Lithuania, Poland, and Finland). Retail operations under the unified 'Enefit' brand encompass electricity packages, gas supply, EV charging network (Enefit Volt with 1,500+ connectors), fiber internet, and insurance products. The company also offers specialized B2B services including the AI-powered 'Algo' management software for battery and solar park optimization, energy audits, and solar park maintenance. Development projects include the Sopi-Tootsi hybrid wind/solar facility (255 MW), Liivi Bay offshore wind farm (up to 1,000 MW planned), and multiple BESS expansions. Target is 1.2 GW total capacity by end of 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Enefit Electricity (Elekter) Electricity supply packages and contracts for residential and business customers across the Baltic markets, including green electricity options that reduce carbon footprint.
• Enefit Gas (Gaas) Natural gas supply packages for residential and business customers, with various contract terms and competitive pricing.
• Enefit Volt (EV Charging Network) Public electric vehicle charging network across the Baltics and Poland with 1,500+ charging connectors, including ultra-fast 320 kW chargers, standard fast chargers, and battery-integrated chargers for home, public, and fleet use.
• Enefit Internet (Kiire internet) High-speed fiber optic internet services for residential and business customers across Estonia.
• Algo Management Software Management software for business customers that transforms battery and solar parks into active market participants, providing access to balancing markets and limiting generation when exchange prices are negative.
• Wind Farm Portfolio 29 wind farms across Estonia, Latvia, Lithuania, Poland, and Finland with combined operational capacity exceeding 1,100 MW, making Enefit Green the largest wind energy producer in the Baltics.
• Solar Power Plants 46 solar power plants across five countries, including the Sopi solar park (one of the largest in the Baltics), qualified for automatic and manual Frequency Restoration Reserve markets.
• Sopi-Tootsi Wind and Solar Park 255 MW hybrid renewable energy facility in Põhja-Pärnumaa, Estonia, with 38 turbines and adjacent solar park, producing nearly 10% of Estonia's annual electricity consumption. Funded in part by a €100 million EBRD loan.
• Battery Energy Storage Systems (BESS) Grid-scale battery storage facilities including the Auvere complex (Estonia's largest) and Lithuanian expansion (46 MW/184 MWh across three sites) providing grid stability services and peak price management.
• Cogeneration Plant (Iru) Combined heat and power plant in Tallinn that produces electricity and district heating from mixed municipal waste, producing the most affordably priced heat energy in Estonia.
• Hydroelectric Plant Hydroelectric power generation facility contributing to the diversified renewable energy portfolio across five countries.
• Enefit Insurance (Kindlustus) Property and electrical appliance insurance products for residential customers, offered alongside electricity contracts.

Quantifiable outcome

• 480,000 tonnes CO2 reduction annually from Sopi-Tootsi wind farm
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Rabbalshede Kraft ABcoreChannel Partner/ Reseller/ Distributor · 2 December 2025Rabbalshede Kraft AB, a Swedish renewable energy company founded in 2005, manages the Tolpanvaara wind farm on behalf of TD Greystone Infrastructure Fund. The partnership enables continued local operations and community relations in the Pudasjärvi region.
• CapfieldminorChannel Partner/ Reseller/ Distributor · 26 November 2025Enefit and Capfield partnered to install 18 new 320 kW ultra-fast EV chargers at six shopping centers in Tallinn and Pärnu, capable of providing 100 km range in minutes.
• Forus TaksominorGTM or Marketing Partner · 30 October 2025Enefit and Forus Takso partnered to make Estonia's taxi service greener. Forus drivers receive special EV charging rates on Enefit's public charging network, making electric taxi operations more cost-effective.
• Sumitomo CorporationminorStrategic or Co-development Partner · 13 August 2025Enefit Green and Sumitomo Corporation terminated their partnership for developing the Liivi Bay offshore wind farm. The decision was based on joint assessment of Estonia's offshore wind outlook and current market and regulatory conditions. Without clear government support mechanisms (CfD or similar), investors lacked the certainty needed for multi-billion euro investments.
• Rimi Eesti Food ASminorChannel Partner/ Reseller/ Distributor · 17 July 2025Enefit installed EV fast chargers at 15-20 Rimi grocery stores across Estonia, making EV charging accessible during everyday shopping trips.
• TKM Kinnisvara ASminorChannel Partner/ Reseller/ Distributor · 11 June 2025Enefit partnered with TKM Kinnisvara to install EV charging points at Selver stores across Estonia, with 96 total charging points planned.
• SA Eesti Terviserajad (Estonian Health Trails)minorGTM or Marketing Partner · 3 March 2025Joint project 'Charge Two Batteries at Once' installs EV chargers at health trail parking areas, promoting outdoor activity and sustainable transportation. Six locations include Mammaste, Holstre-Polli, Kõrvemaa, Palivere, Kadrina, and Alutaguse.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Statkraft: Norwegian state-owned renewable energy generator and Europe's largest generator of renewable energy. Comparable as a state-backed European renewable incumbent operating hydro, wind, and solar across Northern Europe.
• Fortum: Finnish state-linked integrated energy utility with growing renewable portfolio across the Nordics and Baltics. Comparable as a Nordic incumbent with renewable expansion into overlapping markets.
• Encavis AG: German IPP operating solar and wind parks across Europe. Comparable as a publicly-listed European renewable energy operator with diversified multi-country assets.
• Eesti Energia AS: Parent company and Estonian state-owned energy group with oil shale generation, district heating, and renewable assets. Comparable as the broader integrated energy incumbent in Enefit Green's home market.

Direct peers

• Ignitis Group: State-owned Lithuanian energy group with a renewable energy arm (Ignitis Renewables) operating wind, solar, hydro, and biomass assets in the Baltics and Poland. Closest comparable by geography, state ownership, and mixed renewable technology portfolio.
• Latvenergo: State-owned Latvian power utility operating hydro, thermal, and renewable generation assets serving the Latvian market. Comparable as a Baltic state-backed integrated renewable producer and electricity retailer.
• Polenergia: Polish integrated renewable energy company developing onshore and offshore wind farms plus solar PV. Comparable as a Central European renewable developer with overlapping Polish market presence.

Emerging players

• OX2: Nordic renewable energy developer specializing in onshore and offshore wind and solar development across the Nordics and Baltics. Comparable as a regional wind/solar developer pursuing similar European expansion.
• Eolus Vind: Swedish wind energy project developer and operator with projects across the Nordics and parts of the Baltics. Comparable as a regional wind-focused developer and operator.
• European Energy: Danish developer and operator of wind, solar, and Power-to-X assets across Europe. Comparable as a renewable developer with pan-European ambitions and similar technology mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/enefitgreen

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enefit Green