Energy, Estonia, Investments, Real Estate

“Revenue from sales of real estate property that is not directly connected to Eesti Energia’s core operations will be invested into the group’s core operations, i.e. into production of electricity, heating and liquid fuels,” stated director of Eesti Energia’s real estate division Urmas Uiboaid.

“The objective of the sale transaction is to release financial resources, but on some of the properties Eesti Energia will stay on as a tenant: this, for example, applies to office buildings and service facilities that can be seen in the list of objects to be sold,” he added.

Uiboaid did not rule out the possibility that the enterprise might put more properties up for sale in the future, but no such decisions have been made.

“As for the moves to acquire more real estate properties, we have decided not to invest our resources into developing real estate that is not linked to our core operations,” he remarked.