Gren increases investment in Estonia

Finnish energy group Gren, previously known as Fortum, has acquired VKG Soojus, a district heating network serving 30,000 end users in Kohtla-Järve and Jõhvi districts.

Seller, Viru Keemia Grupp Energia, will continue to produce energy.

The transaction increases Gren’s share in the Estonian local energy market, which has consolidated in recent years. Transaction values were not disclosed.