The Estonian metal processing company, Freen, will invest EUR 5.9mn to begin manufacturing wind turbines at its factory in Kohtla-Järve, BNS reports. Estonia’s business support agencies, KredEx and Enterprise Estonia (EAS), will provide EUR 2.6mn of financial support for the project from the EU’s Just Transition Fund. Freen completed the construction of the first phase…
A 100-kilogramme aerial bomb was found during excavation work at an intersection in Estonia’s second-largest city, Tartu, on 4 July 2023, BNS reports. Explosive ordnance disposal (EOD) experts were dispatched to remove the bomb in the city’s Raadi neighbourhood. The bomb will be destroyed at the training grounds of the Estonian Defence Forces in Ida-Virumaa…
Estonia’s privately-owned energy group, Utilitas, posted sales revenue of EUR 255.9mn in 2022, which was up from EUR 159.9mn in 2021, ERR reports. Production and sale of heat and electricity accounted for 94% of total revenue. The rest came from renewable energy subsidies and other sales. Utilitas produced 2.2 TWh of heat and electricity in…
Latvia’s new president, former foreign minister Edgars Rinkevics, made his first official visit abroad to Estonia on 10 July 2023, ERR reports. He met with Estonian President Alar Karis, Prime Minister Kaja Kallas, and other officials in Tallinn. They discussed bilateral cooperation, regional cooperation projects, continued support for Ukraine, and the NATO summit in Vilnius….
Real estate and rental prices in Estonia have increased the most in the entire EU since 2010, according to Eurostat data, ERR reports. Real estate prices in Estonia have tripled and rental prices have increased by 212% between 2010 and the first quarter of 2023. Average real estate prices in the EU rose by almost…
Estonia’s privately-owned gas company, Eesti Gaas (Elenger), posted revenue of over EUR 1bn in 2022, which was a triple increase from just over EUR 380mn in 2021, ERR reports. Sales of natural gas amounted to EUR 890.2mn (88% of total revenue) and of electricity to EUR 67mn (nearly 7%). Sales in Estonia accounted for 46%…
NATO’s new defence plans for the Baltic region mean that the Estonian people will “no longer have to wait to be liberated” if the country is attacked, Estonia’s Prime Minister, Kaja Kallas, stated, ERR reports. Speaking at the NATO summit in Vilnius, Kallas said that NATO would be ready to fight back immediately, which should…
The Lithuanian fashion retailer, Apranga Group, posted a retail turnover of EUR 147.6mn (including VAT) in the first half of 2023, which was up 15.6% from the same period of 2022, GlobeNewswire reports. Sales in Lithuania amounted to EUR 89.7mn (up 14.8%), in Latvia to EUR 35.0mn (up 14.5%), and in Estonia to EUR 22.9mn…
Estonia’s exports of goods totalled EUR 1.6bn at current prices in May 2023, which was down 15% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Exports of goods of Estonian origin fell by 21% and accounted for 65% (69%) of total exports. Overall imports totalled EUR 1.9bn, which was…