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).

Enefit Green produced 149.9 GWh of electricity in April, which is 39.5% 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 more than a third of Enefit Green’s total electricity production and about 70% of the growth in production.

Enefit Green group’s operating income for Q1 2024 decreased by 11% while operating expenses for the period decreased by 22% compared to the same period last year. As a result, EBITDA increased by 3% to €42.4m and net profit for the quarter increased by 10% to €33.4m (earnings per share €0.13).