Pelletiküte AS that belongs to the Graanul Invest group sold its boiler plants to one of the largest energy producers in Estonia, Adven Eesti, and left heat production business.
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.
Raul Kirjanen, CEO of AS Graanul Invest, said: “Our focus is on wood and valorising it, and producing heat has become more of a side business as a result of the fast growth over the last few years. Our discussions have led to the conclusion that it would be reasonable to exit the side business in order for us to put more emphasis on our main activity. As such, we have decided to entrust the boiler plants to Adven as an expert in its field and focus on manufacturing pellets and developing new directions.”
Graanul Invest is a company operating in the production of renewable energy, forestry, and developing bioprocesses.
