Events, data and analysis from the Baltic economies
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Lithuanian energy group Ignitis is exploring the construction of a gas-fired power plant with a capacity of up to 200 MW near Tartu, Estonia. Its subsidiary, Ignitis Renewables DevCo1 OÜ, has applied to Kastre municipality to initiate detailed…
Estonia’s construction price index increased by 3.8% year on year in the third quarter of 2026, according to Statistics Estonia. Compared with the previous quarter, construction costs rose by 1.0%. Building materials recorded the strongest annual increase, at…
Estonia is moving ahead with plans for a major film production complex in Tallinn. Tallinnfilm Studios has launched an international tender for the design and construction of a new studio facility in the Paljassaare district. The approximately 6,000-square-metre…
Estonian meat producer Nõo Lihatööstus has commissioned a new cold storage facility under a €4.7 million construction contract awarded to Embach Ehitus, a subsidiary of the listed construction group Nordecon. The agreement, announced on 19 October, covers the…
Canadian industrial materials group Neo Performance Materials has been selected for up to €126 million in EU Innovation Fund support for a major expansion of its rare earth processing and permanent magnet operations in Estonia. The company estimates…
German maritime technology company Gabler Group AG has acquired a 75% stake in Tallinn-based DECK Marine Systems OÜ. The transaction was completed on 16 October, with the purchase price remaining undisclosed. Founded in 2020, DECK develops and manufactures…
In October 2024, wholesale electricity prices were almost identical across the three Baltic states. Two years later, Estonia is trading at a substantial discount to Latvia and Lithuania, which continue to move almost in lockstep. September’s results confirm…
PhotoSwedish banking group SEB has agreed to pay $33 million to New York’s financial regulator, bringing to a close a long-running US investigation into weaknesses in its anti-money laundering controls, including those at its Baltic subsidiaries. The settlement,…
The European Commission has given preliminary approval for nearly €32 million in funding to strengthen Estonia’s eastern border surveillance infrastructure, supporting a project scheduled for completion by the end of 2029. The funding will allow Estonia’s Police and…
Estonian construction company Revin Grupp has secured a €9.94 million contract, including VAT, to build a new kindergarten in Narva’s Kreenholm district. According to ERR’s report on 14 October, construction is expected to begin within a month. The…
Neo Performance Materials is preparing to change the raw material supply arrangements at its Silmet rare earths facility in Sillamäe, Estonia, as the company advances plans to modernise its European separation operations. In an update released on 13…