Vapo Oy’s subsidiary AS Tootsi Turvas and the municipality of Ridala, Estonia, have signed an agreement by which AS Tootsi Turvas acquired the entire share capital of AS Uuemõisa Teenus, a heating production and distribution company owned by the municipality.
The annual heating sales of the acquired entity amount to approx. 8 GWh. The heating plant uses locally sourced peat and wood as its fuel. The majority of the district heating network included in the acquisition has been renovated.
AS Tootsi Turvas was established in 1919. Its main products are energy peat, agricultural peat, wood fuels and heating. AS Tootsi Turvas currently supplies heating from 8 heating plants and maintains five district heating networks in Estonia.
