Gren has signed an agreement to acquire a district heating business from E energija group, reinforcing its commitment to sustainable energy solutions in Lithuania.

Target Information

Gren has entered into an agreement to acquire the district heating business from E energija group, which operates across five cities in Lithuania: Akmenė, Klaipėda, Trakai, Vilnius, and Visaginas. This district heating venture boasts a total generation capacity of 162 MW, with an annual energy production of approximately 320 GWh. The acquisition is a strategic component of Gren’s broader growth strategy within the Northern European energy markets.

Industry Overview in Lithuania

The district heating industry in Lithuania is pivotal for providing efficient heating solutions, particularly given the country's harsh winters. The sector has been evolving, with a significant focus on transitioning to renewable energy sources. This shift aligns with the European Union's broader sustainability goals, encouraging increased investment in green technologies.

Historically, Lithuania has relied heavily on fossil fuels for its energy needs. However, recent initiatives have aimed to diversify energy sources, enhancing energy security. Th