For investors

As of 31 December 2025, Eesti Energia's debt obligations amounted to EUR 1,612 million and the net debt to EBITDA ratio stood at 3.95x. Eesti Energia’s debt consisted of a syndicated loan of EUR 471.4 million, loans received from the European Investment Bank with a nominal value of EUR 373.6 million, loans from the Nordic Investment Bank with a nominal value of EUR 149.6 million, a loan from the European Bank for Reconstruction and Development with a nominal value of EUR 4.8 million, loans from commercial banks with a nominal value of EUR 541.3 million, and bonds traded on the Baltic Exchange in the amount of EUR 50 million. As of the end of December 2025, loans of the Group’s subsidiary Enefit Green AS accounted for EUR 725.7 million of the Group’s total debt.

The Group’s liquidity buffer includes both liquid financial assets and undrawn loan facilities. As of 31 December 2025, undrawn loan facilities amounted to EUR 420 million. Of this, the parent company Eesti Energia AS accounted for EUR 270 million, consisting of revolving credit facilities totalling EUR 270 million with maturities between September 2026 and September 2028. Enefit Green’s undrawn loans amounted to EUR 150 million as of 31 December 2025. More information can be found in Eesti Energia AS’s quarterly report.

Sustainability-Linked Loan SPO (January 2023)

Green Finance Framework (June 2024)

Sustainability Quality of the Issuer and Green Finance Framework, SPO (June 2024)

Green Finance Framework (October 2025)

Sustainability Quality of the Issuer and Green Finance Framework, SPO (November 2025)