Eesti Energia history

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.

In 1998, it was reorganized from the state enterprise to private limited company.

In 1999, Government handed 51% of shares of Eesti Põlevkivi to Narva Elektrijaamad.

According to the basic terms of sale, agreed in 2000, NRG Energy was to acquire 49% stake in Narva Power Plants.

On 21 August 2002 NRG Energy filed to the London court claiming £100 million compensation for damages from the cancelled deal; however this claim was rejected.

In 2003, Eesti Energia tried to privatize Lithuanian distribution company RST. Although Eesti Energia fulfilled the privatization criteria and was the only bidder at the final stage of privatization, the privatization was halted by the Lithuanian Government.

On 1 December 2005, during his visit to Estonia, Lithuanian Prime Minister Algirdas Brazauskas met with the CEO of Eesti Energia Sandor Liive to discuss Eesti Energia's participation in the proposed Visaginas Nuclear Power Plant project.

On 8 March 2006, the heads of Lietuvos Energija, Eesti Energia and Latvenergo during their meeting in Ignalina signed a memorandum of understanding on the preparation for construction of a new nuclear reactor in Lithuania.

The concession agreement was signed on 11 May 2010 in the presence of Jordanian and Estonian prime ministers Samir Zaid al-Rifai and Andrus Ansip.

In March 2011, it acquired 100% shares of the Utah-based Oil Shale Exploration Company.

Eesti Energia negotiated for six years; however, the project was put on hold after government change in Lithuania at the end of 2012.

On 29 May 2018 it was announced that Enefit Green, a renewable energy subsidiary of Eesti Energia, will acquire 100% of shares in the renewable energy company Nelja Energia for €289 million.