About us
The main areas of business of OÜ Nelja Energia (Energy of Four) are the development of the renewable energy industry and the operation of power production. Nelja (four) refers to focus on four renewable energy sources – wind, water, biomass and solar. We are also involved in areas related to renewable energy industry, e.g., hydrogen, gas, etc.
As the company does not have any energy generating installations, it operates companies that are specially established for each project through operating agreements. The companies belong to people who believe in the future of renewable energy.
Structure of Nelja Energia
Nelja Energia belongs to four equal owners, each bringing specific skills and knowledge to the company. Vardar Eurus AS, a Scandinavian power company, brings international experience. Vardar Eurus, a company registered in Norway, serves as a means of cooperation between two organisations - 90% of the company belongs to Vardar AS, a Norwegian power company, and 10% to the Nordic Environment Finance Corporation (NEFCO).
Vardar is a group that includes hydro power stations with an annual production of 3 TWh (50% of the consumption in Estonia), power grids, district heating, energy trade, and wind power. NEFCO is a national risk capital institution that invests in environmentally friendly projects. The corporation has assets in the amount of EUR 115 million.
The second shareholder of Nelja Energia is an Estonian investment fund, Freenergy AS. Freenergy, an investment fund registered in Estonia, was created for the provision of investment opportunities into the Baltic renewable energy sector. 33% of the fund is held by the European Bank for Reconstruction and Development (EBRD), and 67% is held by Estonian private investors.
The third shareholder, Solarcom OÜ, which is 100% owned by Martin Kruus, the Chairman of the Board of Nelja Energia, ensures the knowledge and understanding of the local power industry, while the fourth shareholder, Atradius OÜ, ensures financial competence. The owner of Atradius is Kalle Kiigske, the Member of the Board of Nelja Energia.