After the take-over of Baltic renewables champion Nelja Energia via its own green energy unit Enefit Green, Estonian state-owned energy firm Eesti Energia plans an IPO for the beefed-up renewables outfit with expansion plans for the wider region, Eesti chairman Hando Sutter told Recharge.

Eesti Energia in May signed a deal to buy privately-held Nelja Energia for €289m ($336m) from Vardar Euros, a company owned by Norwegian municipalities.