What E Energija does

E Energija is a Lithuanian private renewable energy project developer and asset manager founded in 1994 and headquartered in Vilnius. The company develops wind, solar, biomass district heating, and battery energy storage projects from greenfield through to ready-to-build or operational stage, then sells completed assets to institutional investors and energy companies while retaining long-term asset management contracts. As of the latest data, the company has 475 MW of completed projects and 1,141 MW under development across Lithuania, Latvia, Ukraine, and Poland, and has supplied equipment to nearly 100 biomass heating plants since 2011.

The company's product portfolio spans four pillars: onshore wind (including hybrid wind+solar parks), solar PV, biomass district heating (concessions, EPC, and proprietary equipment), and battery energy storage. Its most notable technical asset is the proprietary NordNest Smart Energy Management System (EMS), an in-house control platform that optimizes charging and discharging cycles for utility-scale battery storage and enables revenue stacking across energy trading, peak shaving, balancing services (FCR/aFRR/mFRR), and backup power. E Energija operates its EMS on both its own BESS projects (such as the 120 MWh Vilnius BESS, Lithuania's first commercial battery storage facility) and customer-owned industrial BESS installations.

E Energija's business model is a hybrid of one-time project development and EPC fees, hardware/equipment sales (biomass boilers), and recurring managed services from retained asset management contracts. Pricing is bespoke and project-based rather than list-priced, and go-to-market is direct enterprise sales to private equity infrastructure funds, energy company operators, and municipalities. Named customers and acquirers of developed assets include Ignitis Renewables, Encavis AG, Quaero Capital, Partners Group (via Gren), Equity United, and GE Energy Financial Services, alongside industrial BESS clients such as Šilkas and Ketaus. The firm operates with 101–250 employees and reports 1.56 TWh of sustainable electricity produced and 30.3 TWh of sustainable heat produced to date.

Name

E Energija

Legal name

UAB „E energija"

Website

https://e-energija.lt

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

E Energija is a Lithuanian renewable energy project developer founded in 1994 that develops wind, solar, biomass, and battery storage projects across the Baltics and Poland, selling completed assets to institutional investors while retaining asset management and proprietary NordNest EMS contracts.

Ownership category

akta.pro rank

Product category

Renewable Energy Project Development

NAICS

Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Cogeneration Services & Small Power Producers (4991), Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures (3430)

akta.pro primary industry

Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB)

akta.pro secondary industries

Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Energy Storage Asset Management (BESS/PCS/EMS) (EUAEAMAE), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK), Wind Balance-of-Plant EPC (Crane Pads, Turbine Foundations, Internal Roads) (EUAEADAI), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Wind energy development
• Solar project development
• Biomass heating systems
• Energy storage solutions
• Renewable energy EPC

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Project Development and Sale: E Energija develops renewable energy projects from greenfield through development, design, contracting, and construction management. Completed projects are sold to investors (institutional investors, energy companies), with the company retaining technical and administrative asset management services post-sale. Revenue is generated through project development fees and the appreciation value of developed assets.
2. EPC Contract Services: Engineering, Procurement, and Construction contracting services for biomass heating projects, including greenfield developments and retrofitting coal-fired boilers to biomass in Poland.
3. Asset Management Services: Ongoing technical and administrative asset management services for completed wind parks, providing recurring revenue from operational assets. Services include operational monitoring, maintenance oversight, and regulatory compliance.
4. Equipment Manufacturing and Supply: Since 2011, E Energija has supplied equipment to biomass-powered heat production plants, having supplied equipment to nearly 100 biomass facilities. This includes designing and producing state-of-the-art biomass heating equipment.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

E Energija develops, constructs, and finances utility-scale wind, solar/PV, biomass, and battery energy storage projects across Lithuania, Latvia, Ukraine, and Poland, then sells completed assets to institutional investors while retaining long-term asset management services. The portfolio is operated and optimized through its proprietary NordNest Smart Energy Management System (EMS), and the company has also manufactured its own biomass heating equipment since 2011.

Differentiator

Problem solved

Functional benefit

Products and services

• Wind Park Projects Utility-scale wind farm developments including the 300 MW Kelme wind farm, Šilutė and Telšiai wind parks, designed for institutional investors and energy companies.
• Solar/PV Park Projects Utility-scale photovoltaic solar park developments, including a portfolio of projects in Poland, developed and sold to investors.
• Battery Energy Storage Systems (BESS) Grid-scale and industrial battery storage installations, including the Vilnius BESS and dedicated BESS for Ketaus and Šilkas industrial plants, providing balancing and consumption optimization.
• Biomass Heating Equipment In-house designed and manufactured biomass combustion and boiler equipment, produced since 2011, supplied for district heating and industrial biomass installations.
• NordNest Smart Energy Management System (EMS) Proprietary software platform that monitors, controls, and optimizes renewable generation, consumption, and storage across E Energija's portfolio and is also used to deliver asset management services to third-party owners.
• Renewable Asset Management Services Long-term operation, maintenance, and optimization of completed renewable energy projects under the NordNest EMS, retained after assets are sold to institutional investors.
• Biomass Heating EPC Services Turnkey engineering, procurement, and construction services for biomass district heating and industrial heating systems, including the Klaipėda district heating concession.

Quantifiable outcome

• 6,464K tonnes of fossil CO2 emissions saved through renewable energy production
• +5 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Enercon GmbHcoreTechnology or IntegrationJoint development partnership for wind park projects. E Energija and Enercon jointly developed the Šilutė Wind Park (21.5 MW, 10 Enercon E-82 turbines, operational since 2012), marking a significant milestone in Lithuania's renewable energy landscape.
• Sun Investment GroupcoreStrategic or Co-development PartnerE Energija partnered with Sun Investment Group and I+D Energias to develop 43 photovoltaic (PV) plants in Poland with combined capacity of 42.4 MW, contributing substantially to Poland's renewable energy portfolio.
• I+D EnergiascoreStrategic or Co-development PartnerE Energija partnered with I+D Energias and Sun Investment Group to develop 43 photovoltaic (PV) plants in Poland with combined capacity of 42.4 MW, successfully commissioned in 2019.
• NordexcoreTechnology or IntegrationNordex has supplied wind turbine generators for E Energija projects including 44 Nordex N163-5.9 MW turbines for the 300 MW Kelme Wind Park (largest in the Baltics) and 6 Nordex N163-5.9 MW turbines for the 42 MW Vandziogalos wind park.
• L-VėjasminorStrategic or Co-development PartnerPartnership for the Telšiai wind park development (69.3 MW) located in Telšiai, Lithuania.

Scale indicators16 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Statkraft: Norwegian state-owned renewable energy developer and generator, one of Europe's largest hydropower generators and a growing wind/solar operator. Competes for similar Nordic/Baltic project pipelines and PPAs.
• Encavis AG: German-listed operator of solar and wind parks across Europe. Comparable as an institutional acquirer of E Energija-developed assets and as a broader renewable energy operator in similar geographies.

Direct peers

• European Energy: Danish renewable energy developer with wind, solar, and PtX projects across Europe. Comparable as a European greenfield developer pursuing subsidy-free projects and selling developed assets to infrastructure investors.
• OX2: Swedish-origin renewable energy developer with onshore wind, solar, and storage projects across the Nordics, Baltics, and broader Europe. Comparable as a multi-technology greenfield developer with hybrid park and storage expertise.
• Eolus Vind: Swedish wind project developer with a similar model of developing onshore wind from greenfield through to ready-to-build and selling to investors. Comparable business model and customer base (infrastructure funds).
• Sun Investment Group: Lithuanian-origin solar and wind project developer active in Poland and the Baltics. Direct co-development partner with E Energija on the 42.4 MW Polish PV portfolio; competes for similar sites and investor relationships.
• Arise AB: Swedish wind project developer active across the Nordics and Northern Europe. Comparable as a small-to-mid cap greenfield wind developer pursuing similar ready-to-build exit strategies.
• Enefit Green: Estonian-listed renewable energy producer and developer operating wind, solar, and biomass across the Baltics. Closely comparable as a regional renewable developer serving the same geographic footprint with overlapping wind, solar, and district heating activities.
• Modus Energy: Lithuanian renewable energy developer focused on wind, biogas, and biomass projects across the Baltics. Highly comparable as a same-geography developer with overlapping wind/biomass project development capabilities.

Emerging players

• Ignitis Renewables: Lithuanian state-controlled offshore and onshore wind developer. Acquirer of E Energija's Kelme 300 MW project; comparable as a Baltic-focused wind developer and institutional counterparty for project exits.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/e-energija

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about E Energija