BAKU, Azerbaijan, July 15. Estonia’s Minister of Finance, Jürgen Ligi, has signed an updated set of ownership expectations for Eesti Energia AS on behalf of the state, placing a strong emphasis on the use of future technologies to support cleaner and more efficient energy production, Trend reports.
“The key responsibilities of Eesti Energia are energy security, competitiveness, and cleaner production. The ongoing structural reform is integrating renewable energy capacity with other business areas and aims to restore Eesti Energia’s investment capability. The end result must benefit both consumers and the environment,” said Minister Ligi.
The revised document sets out expectations for a competitive production portfolio that incorporates flexible solutions and reduced CO₂ emissions, with the goal of achieving clean industrial output by 2050. It also tasks the company with ensuring the continuity of essential services and improving the nationwide reliability of the electricity distribution network.
The updated ownership expectations are available on the Ministry of Finance’s website.
To support Eesti Energia’s strategic investment plans, the government increased the company’s share capital by 100 million euros in May.
The state holds ownership in Eesti Energia AS to ensure both a return on investment and a sustainable energy supply aligned with the EU’s energy and climate policy goals.
The previous version of the ownership expectations was last updated on August 25, 2022. Under Estonia’s State Assets Act, expectations for state-owned companies are reviewed and updated at least once every three years to ensure they remain relevant and effective.