Aug 2 (Renewables Now) - The developer of an up to 1,100-MW offshore wind project near Estonia’s Hiiumaa Island signed on Monday a cooperation agreement with Hiiu municipality.
Estonian energy producer Nelja Energia AS’ plan is to install between 100 and 160 offshore wind turbines for a combined capacity of 700 MW to 1,100 MW. The turbines are expected to have capacities in the range of 4 MW to 7 MW.
It was reported in June that the Hiiu cooperation deal will give Hiiu residents the opportunity to invest in preference shares or bonds in the wind project. The establishment of a maintenance operations center on Hiiumaa was also mentioned by local media at the time.
In its annual financial report for 2016, published last month, Nelja Energia said that the delivery of offshore wind projects would be excluded from its business plan until 2020 because offshore wind was not competitive in the region at current market prices. Still, a timetable for the Hiiumaa project dated July 31 shows it is possible to build the wind farm over the next three years.