The Management Board of Enefit Green AS (hereinafter the Company) (registry code 11184032, located at Lelle 22, 11318 Tallinn, Harju county, Estonia) calls the extraordinary general meeting of the shareholders of the Company on 19 December 2024 at 09.00 (EEST) at Enefit Green’s head office (Lelle 22, Tallinn).

Enefit Green produced 200.1 GWh of electricity in October, or 19.0% more than in October 2023. The production result was mainly driven by new wind and solar farms in Lithuania, Finland, Poland and Estonia (both by those commissioned last year and by those still under construction) the production of which accounted for over half of Enefit Green's total electricity production. The monthly production result corresponded to the revised Q4 production forecast published in the September production notice, despite slightly weaker wind conditions and capacity downregulations (mainly during hours with very low electricity prices). The gradual launch of the Sopi-Tootsi wind farm and the good availability of other wind farms had a positive impact on production.

The Enefit Green group’s operating income for Q3 2024 decreased by 2% while operating expenses (excl. D&A) decreased by 3% compared to the same period last year. As a result, EBITDA decreased by 1% to €15.7m. Net profit for the period increased by €0.4m to €5.4m (earnings per share €0.021).

The Supervisory Board of Enefit Green has appointed Argo Rannamets as a Member of the Management Board. Rannamets will take up the role of the Chief Financial Officer, responsible for the company’s daily financial management, financing opportunities, and investment planning. His three-year term begins January 31, 2025. 

Enefit Green will publish its Q3 2024 interim report on 31 October 2024 at 09.00 EET and will host two online webinars to present the results according to the following schedule.

The mandate of Anne Sulling, independent member of the Supervisory Board of Enefit Green and member of the Audit Committee, expired due to the expiry of the three-year term of office on 21 October and 22 October 2024, respectively.

Enefit Green produced 141 GWh of electricity in September, which is 48.3% more than in the same period last year. During Q3 as a whole, Enefit Green's electricity production increased by 31.8% to 342.1 GWh, mainly due to the addition of production from new wind and solar farms. The result was about 109 GWh below what was previously planned, mainly driven by the slower-than-expected production start at the Sopi-Tootsi wind farm, downregulation of production capacities and weak wind conditions.

Enefit Green has reached a settlement with GE Vernova concerning the incident during construction of the Akmene wind farm, resulting in the collapse of a wind turbine.

As previously communicated via the stock exchange announcement of 28 June 2024, Veiko Räim's mandate as a Member of the Management Board and CFO of Enefit Green expired on 24 September 2024. The process of selecting a new board member is ongoing.

Enefit Green produced 106.7 GWh of electricity in August, or 29.1% more than in August 2023. The production result was mainly driven by new wind and solar farms in Lithuania, Finland, Poland and Estonia (both by those commissioned last year and by those still under construction) the production of which accounted for nearly 40% of Enefit Green's total electricity production.

Yesterday, on 5 September 2024, the opening ceremony of the Šilalė II wind farm (43 MW, Lithuania) took place.

The Supervisory Board of Enefit Green has decided to extend the contract and mandate of Innar Kaasik, Member of the Management Board and Head of Production of Enefit Green, for 3 years from the expiry of the current contract until 24 September 2027.

Enefit Green produced 94.1 GWh of electricity in July, which is 15.1% more than in the same period last year. The production result was mainly driven by new – both newly completed wind and solar farms and those under construction in Lithuania, Finland, Poland and Estonia. These new assets contributed more than 40% of Enefit Green’s total electricity production.

On 2 August 2024, Enefit Green signed a €100 million loan agreement with the European Bank for Reconstruction and Development (EBRD) to finance its ongoing investment programme. The term of the concluded contract is 8 years.

The Enefit Green group’s operating income for Q2 2024 decreased by 7% while operating expenses (excl. D&A) decreased by 12% compared to the same period last year. As a result, EBITDA decreased by 2% to €19.3m. Net profit for the quarter increased by €2.8m to €3.9m (earnings per share €0.015).

Enefit Green produced 92.2 GWh of electricity in June 2024, which is 31.7% more than in the same period last year. In the second quarter as a whole, mainly due to the addition of new wind and solar farms, electricity production increased by 35.2% to 358.2 GWh. However, this result fell short of the previously published forecast by nearly 61 GWh.

The Supervisory Board of Enefit Green has appointed Juhan Aguraiuja, who has been leading Adven's Baltic business, as the new Chairman of the Management Board. He will assume his position on October 14. According to Articles of Associations, a member of the Management Board is elected for a term of 3 years. Aavo Kärmas, the current CEO of Enefit Green, will step down from his role by mutual agreement with the Supervisory Board, effective July 1.

Enefit Green produced 116.1 GWh of electricity in May, which is 32.7% more than in the same period last year. The production result was mainly driven by new – both newly completed wind farms and those under construction in Lithuania, Finland and Estonia. These wind farms contributed nearly 35% of Enefit Green’s total electricity production.

Enefit Green (trading code EGR1T, ISIN code EE3100137985) will establish the list of shareholders entitled to receive dividend payment on 11 June 2024 at the end of the working day of the Nasdaq CSD settlement system (record date).

The annual general meeting of the shareholders of Enefit Green AS (hereinafter the Company) (registry code 11184032, located at Lelle 22, 11318 Tallinn, Harju county, Estonia) was held on 14 May 2024 at 13.00 (EEST) at Fotografiska Tallinn (Telliskivi 60a-8, Tallinn).