Utilitas (company)

OÜ Utilitas (former name: OÜ Elekter ja Küte) is a utility and energy company located in Tallinn, Estonia. It generates thermal energy and electricity and provides district heating services.

OÜ Utilitas
FormerlyOÜ Elekter ja Küte
IndustryElectricity
Founded2011 (2011) in Tallinn, Estonia
FounderKristjan Rahu
Headquarters
Tallinn
,
Estonia
Area served
Estonia
Key people
Priit Koit (CEO)
Kristjan Rahu (Chairman)
ProductsElectrical power
Heat
ServicesDistrict heating
SubsidiariesAS Utilitas Tallinn
AS Utilitas Eesti
OÜ Utilitas Tallinna Elektrijaam
Websitewww.utilitas.ee

In 1998, Estonian businessman Kristjan Rahu acquired a newly established company AS Eraküte, which started to acquire local heat producers and district heating sets.[1] In 1999, French Dalkia bought 80% stake in Eraküte.[1] In 2001, Eraküte established a subsidiary AS Tallinna Küte for leasing assets of the Tallinn's municipal heating company AS Tallinna Soojus. The deal was completed at the end of 2001.

In 2011, Kristjan Rahu founded OÜ Elekter ja Küte, which acquired from Dalkia OÜ Tallinna Elektrijaam, owner of the Väo Power Plant. One year later Elekter ja Küte bought AS Eraküte and AS Tallinna Küte. In 2013, Elekter ja Küte changed its name to Utilitas.[2] In 2014, Kristjan Rahu gave a 12.32% stake in the company to the company's management.[1] In 2016, all subsidiaries of the company adapted the name Utilitas.[3] In 2018, 85% of Utilitas was acquired by the European Diversified Infrastructure Fund II SPSc (EDIF II), operated by Australian First State Investments.[4]

Utilitas operates 521 kilometres (324 mi) of district heating sets, and heat and power plants in eight cities in Estonia, including Tallinn.[4]

References
  1. "Kuidas sai Kristjan Rahust Tallinna küttekuningas?" [How did Kristjan Rahu became Tallinn's King of Heat?]. Äripäev (in Estonian). 2018-11-28. Retrieved 2019-02-16.
  2. Laanemets •, Juuli (2013-08-29). "OÜ Elekter ja Küte uus nimi on OÜ Utilitas" [The new name of OÜ Elekter and Küte is OÜ Utilitas]. Äripäev (in Estonian). Retrieved 2019-02-16.
  3. "Energiakontsern Utilitas liidab tütarettevõtted ühise kaubamärgi all" [Utilitas energy group merges subsidiaries into a common brand]. Delfi (in Estonian). 2016-09-20. Retrieved 2019-02-16.
  4. "Major Utilitas transaction does not require Competition Authority approval". ERR. 2018-11-30. Retrieved 2019-02-16.

Official website

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.