The first company of the group, trailer manufacturer AS Bestnet, was established in 1990. The fuel retail company fuel retailer AS Alexela Oil was established in 1993. In 2002, a petroleum product terminal was opened in
Paldiski, Estonia, and in 2007, in
Sillamäe, Estonia. In March 2006, Alexela Oil purchased from
YX Energi the
Uno-X chain in Estonia,
Latvia, and
Lithuania. In 2009–2010, it sold its service stations in Lithuania to
Neste Oil and in Latvia to
LR īpašumu aģentūra. In 2006, a hot dip galvanising services provider AS Paldiski Tsingipada (Zincpot) was established. In May 2007, Alexela Logistics bought the Norwegian oil terminal Vest Tank (now Alexela Slovaag) in
Sløvåg in
Gulen Municipality,
Sogn og Fjordane county,
Norway. On 24 May 2007, one day after the acquisition entered into force, an explosion occurred in a tank having severe environmental and health consequences for people living nearby. The LNG terminal developer AS Balti Gaas was established in 2009. In 2011, Alexela bought a majority stake in the
liquid gas retailer Reola Gaas from
Neste. In December 2011, Alexela bought a 50% stake in Kiviõli Keemiatööstus, a
shale-oil producer. In 2014, remaining stakes in Reola Gaas and Kiviõli Keemiatööstus, as also
Gasum's Estonian business were acquired by Alexela. In 2012, it created an electricity retailer Elektrimüügi AS. The group was reorganized as a holding company in summer 2012. That time the group was controlled by Heiti Hääl and Kazakhstan's businessman Igor Bidilo who together owned 73.8% of the shares. In 2014, Bidilo was bought out from the company and the main owners became brothers Heiti and Marti Hääl. In 2015, Reola Gaas was merged into Alexela Energia. In 2018, Alexela purchased the electricity retailer 220 Energia. ==Operations==