From April 2025, Enefit's reserve power plants operate under the name Enefit Power, while its liquid fuels and circular economy units continue as Enefit Industry. Enefit's integrated electricity business brings together generation, portfolio management, sales and customer relationships, generating energy from renewable sources and offering smart, convenient energy solutions. The company is transitioning toward higher-value products while maintaining security of electricity supply in the Baltic states.
Cyborg Score Rationale
In Q1 2026, the group generated €530 million in revenue and €93 million in normalised net profit, with results influenced by higher electricity market prices and additional revenue streams from the frequency reserve market. Strong financial position and diversified operations across renewable energy and industrial fuels, though profitability fluctuates with market conditions.
Top Insights
Enefit has installed 250 public chargers across Estonia, Latvia and Lithuania powered by green energy, with operations expanding to Poland.
A voluntary takeover offer ended in May 2026, increasing parent companies' shareholding in Enefit Green to 97.2%.
Enefit has provided upregulation services on the manual Frequency Restoration Reserve market using renewable energy assets in a bidirectional manner for both upregulation and downregulation.
As of 2025, Enefit expanded its business to government (B2G) activities.
Named Competitors
Fortum — Nordic energy and utility company with renewable and thermal generation
Iberdrola Renewables — European renewable energy producer and utility operator
Elering — Baltic electricity transmission system operator
Recent Developments
(May 2026) Completed voluntary takeover offer increasing parent shareholding in Enefit Green to 97.2%
(April 2025) Restructured operations, separating reserve power plants into Enefit Power and liquid fuels/circular economy into Enefit Industry
(Q1 2026) Generated €530 million in revenue and €93 million normalised net profit
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