We advised Graanul Invest AS on the sale of the boiler plants
Pelletiküte AS that belongs in the Graanul Invest group sold its boiler plants to one of the largest energy producers in Estonia, Adven Eesti, and left heat production business.
The contract was signed by the members of the management boards of Pelletiküte AS and Adven Eesti on 5 October. As a result of the acquisition, Adven will start supplying heat to the Kose district heating area, which comprises three boiler plants (Kose, Kose-Uuemõisa and Ravila) with a total capacity of 5.5 MW. Additionally, Adven acquired another 7 boiler plants with a total capacity of 9 MW situated across Estonia established for supplying commercial customers. Supplying energy to customers continues under the same terms and conditions as contracts of sale of heat are transferred together with assets in the composition of the business unit and will continue to be valid.
Graanul Invest is a company operating in the production of renewable energy, forestry, and developing bioprocesses. Graanul Invest group has grown to be the largest pellet manufacturer in Europe with its pellet factories and co-production plants across the Baltics.
Adven is one of the largest energy producers in Estonia, offering comprehensive energy solutions and the sale of energy in the industrial and real estate sector. The company also distributes district heating and/or natural gas in 21 settlements across Estonia.
The deal was advised by our Partner Ermo Kosk.