Tallinna Vesi signed a €25 million loan agreement with the Nordic Investment Bank (NIB) to finance investments in 2025-2026.
Tallinna Vesi's investments will total €60 million in both 2025 and 2026, in line with the company's strategy and the objectives set out in the Tallinn Public Water Supply and Sewerage Development Plan. These investments are intended to reduce the environmental footprint and increase cost efficiency.
"This agreement will help us implement our investment plan and ensure the high quality and sustainability of our water services while maintaining a clean natural environment. These investments will support us on our environmental journey which was recently recognised when we received the Estonian Green Company of the Year award," said Taavi Gröön, CFO of Tallinna Vesi.
The loan from the Nordic Investment Bank will be used to modernise Tallinn's wastewater infrastructure.
The investment programme will focus on renovating assets to improve service continuity and efficiency. The loan will fund the reconstruction of up to 18 kilometres of wastewater network, reducing breakdowns and protecting the environment. The investment programme also includes upgrades to the wastewater treatment plant, focusing strongly on energy efficiency through renovating the air blower system and biological treatment process.
The loan agreement is for a period of 15 years and is part of a financing structure that was signed in 2023.
AS Tallinna Vesi is the largest water utility in Estonia, providing services to about 25,000 private and business customers and about 500,000 end consumers in Tallinn and its surrounding municipalities. Tallinna Vesi is listed on the main list of the Nasdaq Tallinn Stock Exchange. The largest shareholdings in the company are held by the City of Tallinn (55.06%) and the energy group Utilitas (20.36%). 24.58% of the company's shares are freely floating on the Nasdaq Tallinn Stock Exchange.
Additional information-
Taavi Gröön
CFO of Tallinna Vesi
taavi.groon@tvesi.ee
