Tallinna Vesi plans €60 million of investment in 2026 and had invested €40.80 million by September 30, 2026. In its third-quarter report the Tallinn water company said its investment focus "is now shifting from wastewater treatment to modernising water treatment processes."
The Ülemiste contract
The first step is a full reconstruction of ozonation at the Ülemiste Water Treatment Plant, with microfiltration also to be rebuilt. The company advertised a 48-month contract covering design, equipment, installation and commissioning in April 2026. Requests to participate closed on May 15, 2026. No award had been published by November 10, 2026, so the value of the work is not yet known.
Wastewater work still finishing
The shift comes as the wastewater program nears its end. At Paljassaare, 12 secondary clarifiers are being rebuilt under a project announced in April 2024 at nearly €9 million, with completion due in 2027. Stormwater collectors on Sõle Street, Kolde Avenue and Auna Street are planned to run to October 29, 2027.
Funded by debt
Annual investment rose from €15.38 million in 2021 to €55.74 million in 2025. Loans reached €182 million at September 30, 2026, at an average rate of 3.59%, against €160 million at the end of 2025. In May 2026 the company raised its syndicated bank facility to €165 million, available for drawdown until June 30, 2030.
What the move means for Tallinna Vesi's 2030 carbon and energy targets, its customers and its regulated prices, and which milestones to follow through 2027, is set out in the report. The full report, Water Utility of the Future: Tallinna Vesi, is available for USD 499. For a free overview, read the Tallinna Vesi Utility Snapshot.