The main areas of business of 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.
The ownership structure of Nelja Energia:
Vardar Eurus owns 77% and the Estonian investors own 23% of Nelja Energia shares. 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 an international finance institution that invests in environmentally friendly projects. The corporation has assets in the amount of EUR 115 million.
The Estonian private investors are Ivard OÜ (key person Peeter Mänd), Vestman Energia AS (Aivar Berzin), JMB Investeeringute OÜ (Jüri Mõis), HTB Investeeringute OÜ (Hannes Tamjärv), the companies of current management of Nelja Energia - Solarcom OÜ (Martin Kruus) and Atradius OÜ (Kalle Kiigske), the investment company of Skype founders Ambient Sound Investments OÜ, United Partners Investments OÜ and Kakssada Kakskümmend Volti OÜ.