Enefit Green locks debt for 138 MW of wind in Lithuania, Estonia

Pakri wind farm, Estonia. Author: Kain Kalju. License: Creative Commons, Attribution 2.0 Generic

January 12 (Renewables Now) - Renewable energy producer Enefit Green AS (TAL:EGR1T) said on Tuesday it has sealed a EUR-80-million (USD 90.9m) debt funding deal to support the construction of 138 MW of wind farm projects in Lithuania and Estonia.

The debt, with a term of 12 years, will be extended by the Nordic Investment Bank (NIB). It will be directed towards Enefit Green’s Silale II and Akmene projects in Lithuania and the Purtse scheme in Estonia.

With a combined capacity of 118 MW, the Lithuanian wind farms will be installed at a total investment of around EUR 145 million. Their construction was initiated last year. In Estonia, meanwhile, Enefit Green is conducting the procurement phase for the 20-MW Purtse wind project and expects to take a final investment decision during the current quarter.

Enefit Green, which is the renewables subsidiary of Estonian state-owned energy company Eesti Energia AS, intends to pour up to EUR 600 million to deploy further wind and solar power capacity in the coming years. The investment is aligned with its goal of lifting its production capacity so as to have 1,100 MW of renewable power plants by 2025.

At present, Enefit Green is active in Estonia, Latvia, Lithuania and Poland ad has 456 MW of power generation capacity there.

(EUR 1.0 = USD 1.137)

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