Core Insights - Enefit Green has agreed to divest its Tolpanvaara wind farm in Finland to TD Greystone Infrastructure Fund for nearly €83 million ($96.39 million) as part of a strategy to focus on the Polish and Baltic markets [1][2] - The Tolpanvaara wind farm has an installed capacity of 76MW and a grid export capacity of 72MW, consisting of 13 Nordex turbines expected to produce approximately 250GWh of renewable electricity annually [2][3] - The transaction involved advisory services from Arctic Securities for Enefit Green and KPMG Canada, KPMG Luxembourg, and Loyens & Loeff for TD Greystone Infrastructure Fund [3][4] Company Strategies - Enefit Green's management has decided to divest its only wind farm in Finland due to a lack of plans for expansion in the Finnish market [2] - TD Greystone Infrastructure Fund aims to strengthen its long-term presence in Finland through this acquisition, which complements its Nordic portfolio [3] Market Context - The acquisition reflects a trend of infrastructure investment in renewable energy across Northern Europe, with TD Greystone Infrastructure Fund being a long-term investor in this sector [3][4]

Core Insights - Enefit Green AS has signed a definitive agreement to divest its Tolpanvaara onshore wind farm in Finland for approximately EUR 83 million, indicating a strategic shift towards focusing on core markets in the Baltics and Poland [1][2] Company Overview - Tolpanvaara is a 72 MW onshore wind farm located about 30 kilometers from Pudasjärvi, consisting of 13 Nordex turbines and capable of generating nearly 250 GWh of renewable electricity annually [2] - The final investment decision for the Tolpanvaara project was made in December 2021, and it was completed in spring 2024 [2]

Core Points - The Supervisory Board of Eesti Energia has decided to maintain a four-member Management Board starting from January 1, 2026 [1] - The Management Board will include Andrus Durejko as Chairman and CEO, Marlen Tamm as CFO, Lauri Karp as CEO of Enefit Industry AS, and Juhan Aguraiuja as CEO of the new subsidiary Enefit OÜ [2] - Juhan Aguraiuja has a background in leadership roles, including Chairman of the Management Board of Enefit Green since October 2024 and previous positions at Adven Eesti AS and Danpower Eesti AS [3] - Andrus Durejko's contract has been extended for three years, now set to end on March 31, 2029 [3]

Core Points - Enefit Green has announced the cancellation of its financial calendar in connection with the planned delisting of its shares [1] - Until the delisting procedure is completed, stock exchange announcements will continue to be published according to the requirements and deadlines set by Nasdaq Tallinn [1] Further Information - Contact for further inquiries is Sven Kunsing, Head of Finance Communications, available at investor@enefitgreen.ee [1] - Additional information can be found on the company's investor page [1]

Group 1 - Enefit Green's Management Board has applied for the delisting of its shares from Nasdaq Tallinn following the planned completion of the takeover of minority shareholders' shares as per the resolutions from the general meeting held on 26 June 2025 [1] - On or about 28 July 2025, Enefit Green will submit an application for the transfer of minority shareholders' shares to Eesti Energia AS, along with the compensation payment of €3.40 per share [2]

Core Insights - Enefit Green's electricity production in May reached 153.2 GWh, a 32% increase compared to the previous year, driven by new wind and solar farms [1][5] - Wind energy production was 122 GWh, marking a 34% increase year-over-year, while solar energy production reached 19.9 GWh, nearly 50% higher than last year [1][3][5] Production Details - The increase in wind energy production was attributed to new wind farms, specifically the Sopi-Tootsi and Kelme I wind farms, along with the Sopi solar farm [1] - Despite the overall increase, downregulations due to low electricity prices resulted in 26.5 GWh of unproduced wind energy, with 14.2 GWh from the Finnish market [2] - Weather conditions negatively impacted wind production by approximately 12.7 GWh, particularly affecting Lithuanian wind farms [2] Segment Performance - The production from new wind farms contributed significantly, with 69.9 GWh produced, a 73.2% increase from last year [5] - Solar energy production was also affected by downregulation, leading to 2.6 GWh unproduced, while weather conditions had a positive impact of +0.3 GWh [3] - The Iru cogeneration plant's electricity production decreased by 6% to 11.2 GWh, and thermal energy production fell by 4.7% to 36.1 GWh [4][5] Country-Specific Production - Estonia saw a significant increase in electricity production, rising by 92.5% to 90.2 GWh, while Lithuania's production increased by 10% to 54.2 GWh [5] - In contrast, Finland experienced a drastic decline in production, down 87.4% to 1.9 GWh [5]

Core Insights - Enefit Green's electricity production in April reached 185.1 GWh, marking a 23.5% increase compared to the previous year, driven by new wind and solar farms [1][5] Production Overview - Wind energy production in April was 156.9 GWh, a 17% increase from last year, with new wind farms contributing significantly [1][5] - Solar energy production was 16.7 GWh, nearly 2.7 times higher than last year, primarily due to new solar farms [4][5] - The Iru cogeneration plant produced 11.4 GWh of electricity, reflecting a 20% increase, and thermal energy production was 36.0 GWh, up 18.8% [3][5] Regional Production Breakdown - Estonia's electricity production increased by 57.9% to 102.7 GWh [5] - Lithuania's production rose by 12.8% to 69.9 GWh [5] - Latvia produced 2.3 GWh, a significant increase from zero last year [5] - Poland's production increased by 53.5% to 4.1 GWh [5] - Finland's production saw a decline of 69.1%, dropping to 6.3 GWh [5] Production Challenges - Downregulations due to low electricity prices resulted in 28.2 GWh of unproduced energy from wind farms, with 13.3 GWh from the Finnish market [2] - System services provision in Estonia and Lithuania reduced production by 7.9 GWh [2] - Wind conditions positively impacted production by approximately 4.5 GWh compared to expectations [2] - Solar farms faced downregulation leading to 2.4 GWh of unproduced energy, with grid-related restrictions in Polish solar farms causing an additional 0.6 GWh of unproduced energy [4]

Core Insights - Enefit Green's Q1 2025 operating income decreased by 3% while operating expenses increased by 35% compared to Q1 2024, leading to a 27% decline in EBITDA to €31.0 million and a net profit decrease of 35% to €21.7 million [2][8][25] Production and Sales Volumes - Electricity production increased by 25% to 617 GWh, with new wind and solar farms contributing 343 GWh, a 104% increase year-on-year [6][9] - Heat energy production decreased by 19% to 105 GWh, primarily due to the sale of biomass-based cogeneration and pellet business [2][6] - Electricity sales rose by 22% to 763 GWh [6] Financial Performance - Operating income for Q1 2025 was €66.9 million, down from €68.9 million in Q1 2024, with sales revenue increasing by €6.3 million [6][10] - EBITDA fell to €31.0 million from €42.4 million, and net profit decreased to €21.7 million from €33.4 million [8][25] - The average electricity price in core markets rose to €107.4/MWh from €87.0/MWh, but the implied captured electricity price dropped to €54.5/MWh from €81.4/MWh [11] Market Conditions - Despite rising regional electricity prices, Enefit Green's captured electricity price was significantly lower due to low market prices during production periods [3] - The company is adapting its production strategy through digital solutions and long-term power purchase agreements (PPAs) to stabilize revenue [3] Investments and Projects - Construction is ongoing at the Kelmė II wind farm in Lithuania, and a final investment decision has been made for the Strzałkowo solar farm in Poland, expected to produce 45 GWh annually [4][7] - Total investments in Q1 2025 were €37.7 million, significantly lower than the previous year, with a focus on developing wind farms [26] Financing and Debt - As of March 31, 2025, the group's interest-bearing liabilities were €734.0 million, with a net debt/EBITDA ratio of 6.2 [28][29] - The average interest rate on bank loans was 3.72%, down from 3.90% at the end of 2024 [30]

Core Insights - Enefit Green's Q1 2025 operating income decreased by 3% year-on-year, while operating expenses increased by 35%, leading to a 27% decline in EBITDA to €31.0 million and a net profit decrease of 35% to €21.7 million [1][24]. Production and Sales Volumes - Electricity production increased by 25% to 617 GWh, with new wind and solar farms contributing to a 104% rise in production from these assets [5][6]. - Heat energy production decreased by 19% to 105 GWh, primarily due to the sale of biomass-based cogeneration and pellet business [1][5]. Financial Performance - Operating income for Q1 2025 was €66.9 million, down from €68.9 million in Q1 2024, while sales revenue increased by 11% to €62.4 million [5][8]. - EBITDA fell by €11.4 million, a 27% decrease compared to the previous year, and net profit decreased by €11.8 million [1][24]. - The average electricity price in core markets rose to €107.4/MWh from €87.0/MWh, but the implied captured electricity price dropped to €54.5/MWh from €81.4/MWh [9][10]. Investments and Projects - Construction activities are ongoing at the Kelmė II wind farm in Lithuania, and a final investment decision was made for the Strzałkowo solar farm in Poland, projected to produce 45 GWh annually [3][25]. - Total investments in Q1 2025 amounted to €37.7 million, significantly lower than the previous year, with €36.6 million allocated to development investments [25][26]. Financing and Debt - As of March 31, 2025, the group's interest-bearing liabilities stood at €734.0 million, with bank loans accounting for €724.4 million [27][28]. - The net debt/EBITDA ratio increased to 6.2, attributed to ongoing development projects [28]. Market Conditions - Despite rising regional electricity prices, Enefit Green's captured electricity price was significantly lower due to a wind discount, impacting operating income and EBITDA [2][20]. - Digital solutions and long-term power purchase agreements (PPAs) are being utilized to stabilize revenue in a volatile market [2][4].

Core Points - Enefit Green will release its Q1 2025 interim report on May 8, 2025, at 09:00 EEST [1] - The company will host two webinars to present the results, one in Estonian at 11:00 EEST and another in English at 13:00 EEST on the same day [1] - Presenters for both webinars will include Juhan Aguraiuja, CEO, and Argo Rannamets, CFO, with a Q&A session following each presentation [2] Additional Information - Participants are encouraged to submit questions in advance to investor@enefitgreen.ee [2] - Recordings of the webinars will be available on the company's website [2] - For further inquiries, Sven Kunsing, Head of Finance Communication, can be contacted at investor@enefitgreen.ee [2]