Eesti Energia AS is a public limited energy company in Estonia with its headquarters in Tallinn. It is the world's biggest oil shale to energy company. The company was founded in 1939. As of 2014, it operates in Estonia, Latvia, Lithuania, Finland, Jordan and Utah, United States. In Estonia, the company operates under the name Eesti Energia, while using the brand name Enefit for international operations. The main raw material for energy production – oil shale – is extracted from mines located in Eastern Estonia and owned by the company. The group of Eesti Energia has three main operation areas: electricity generation, shale oil production, and sale and distribution of electricity. Its shares are owned by the Government of Estonia.
History
Eesti Energia was founded in 1939. In 1998, it was reorganized from the state enterprise to a private limited company. In 1998–1999, two distribution companies (Läänemaa Eletrivõrk and Narva Elektrivõrk) were separated from Eesti Energia and privatized.[1]
In 1995, the Government of Estonia started negotiations with NRG Energy, a subsidiary of Northern States Power Company, to create a joint venture on the basis of Narva Power Plants, a subsidiary of Eesti Energia. According to the basic terms of sale, agreed in 2000, NRG Energy was to acquire 49% stake in Narva Power Plants.