Enefit Green buys Estonian wind project to form 235-MW cluster

Estonian power producer Enefit Green AS (TAL:EGR1T) has signed a deal to buy the entity holding the 74-MW Tootsi wind project from Eesti Energia for EUR 26.9 million (USD 27.5m) on a cash- and debt-free basis.

The shovel-ready project will be implemented in Parnu County, southwestern Estonia, in the same area where Enefit is developing the 161-MW Sopi wind park. Together, the 38 turbines of both developments will form the largest wind energy production area in the country.

Upon completion, the wind duo will be able to generate close to 700 GWh of electricity per year, which almost equals the combined output of all existing Estonian wind farms, according to Lauri Ulm, Head of Wind Energy at Enefit Green.

Enefit Green is yet to take the final investment decisions (FIDs) for both projects and is currently searching for a construction company and a wind turbine supplier through a competitive process.

The plan envisages the wind farms generating electricity at the end of 2024.

(EUR 1 = USD 1.024)

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