Tallinna Vesi
On 13 May, AS Tallinna Vesi signed an amendment to its syndicated loan agreement with AS SEB Pank, Swedbank AS, and the Estonian branch of OP Corporate Bank plc. The total value of the loan agreement increased to €165 million, thereby raising the company’s available long-term credit limit by €74 million.
The loan agreement matures on 13 May 2031, and the loan is available for use until 30 June 2030.
Taavi Grööni, Tallinna Vesi’s Chief Financial Officer, says the agreement is an important step in strengthening the company’s investment capacity. “The parties to the agreement are important, long-term financial partners for Tallinna Vesi. This agreement ensures the necessary flexibility and certainty to implement the investment programme required to provide a high-quality, sustainable water service,” said Gröön. He added that the agreement is a key component of the company’s financing structure and will support the implementation of planned investments over the next four years.
The total investment planned by Tallinna Vesi for 2026 amounts to €60 million. This year, the company will rehabilitate and construct up to 40 kilometres of pipes, and continue constructing more borehole pumping stations in the Lasnamäe area to improve the reliability of the water supply network. At the water treatment plant, the company is starting an ozonation project aimed at ensuring high-quality water treatment, improving operational reliability and reducing the plant’s energy consumption. At the wastewater treatment plant, work is continuing on renovating the secondary clarifiers and implementing AI to optimise the treatment processes.
Investments are based on the company’s strategy and are in line with the objectives of set out in Tallinn Public Water Supply and Sewerage Development Plan. The investments focus on maintaining the high quality and continuity of the service and ensuring a clean environment.
AS Tallinna Vesi is the largest water utility in Estonia, providing services to around 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 outstanding shares are in free float and available for public trading on Nasdaq Tallinn.
Kristiina Tamberg