Enersense, a player in the energy sector, has initiated a strategic evaluation of its onshore wind and solar project development operations, potentially leading to their divestment, as announced by the company's board. The move comes as Enersense aims to streamline its focus and enhance profitability in its core business areas.
With a robust project portfolio currently totaling around 5GW and an additional 7GW in feasibility studies, Enersense recognizes significant value in its project development operations. The company is also evaluating its offshore wind power initiatives and the future prospects of its zero-emission transport solutions business, which are promising but require substantial growth capital.
Jaakko Eskola, chair of Enersense's board of directors, emphasized the strategic realignment, stating, “We will concentrate on our core operations: delivering high-quality services that facilitate a sustainable transition to green energy for our partners in the energy, telecommunications, and industrial sectors primarily in Finland and the Baltics.” He added, “The company has launched an efficiency programme aimed at bolstering our profitability.”
In a bid to strengthen its leadership, Enersense is in search of a new chief executive to execute its strategy, drive profitability improvements, and enhance shareholder value. Eskola acknowledged the contribution of the Strategy Committee in refining the company's strategic direction following the recent annual general meeting.
Post the meeting, Enersense's board of directors also established a dedicated strategy committee to provide further guidance on strategic decisions, underscoring its commitment to navigating the evolving energy landscape effectively.
