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    Enefit Green signed a €180 million loan agreement with European Investment Bank

    September 14, 2023 - GlobeNewswire Europe


      On 14 September 2023, Enefit Green signed a €180 million loan agreement with European Investment Bank (EIB) to finance its ongoing investment programme. The term of the concluded contract is 12 years.

      Enefit Green will use the loan capital for the construction of the Sopi-Tootsi wind farm in Estonia. Sopi-Tootsi wind farm is the largest wind farm under construction in Estonia with a capacity of 255 MW. After its completion in 2025, this wind farm will cover approximately 40% of annual electricity consumption of Estonian households.

      Enefit Green is currently constructing five wind and three solar farms in Estonia, Lithuania, Poland and Finland with a total capacity of 608 MW. In 2023, Purtse hybrid wind and solar farm in Estonia and the Zambrow solar farm in Poland with a total capacity of 62MW have been completed and put into operation. During the upcoming six months, 43 MW Šilale II and 75 MW Akmene wind farms in Lithuania, 72MW Tolpanvaara wind farm in Finland, 6MW Debnik and 3MW Estonia solar farm in Poland and Estonia, respectively, are expected to be completed.

      Further information:

      Sven Kunsing

      Head of Finance Communications

      Enefit Green is one of the leading diversified renewable energy producers in the Baltic Sea area. The Company operates wind farms in Estonia and Lithuania, cogeneration plants in Estonia and Latvia, solar farms in Estonia and Poland, a pellet plant in Latvia and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries and Finland. As of the end of 2022, the Company had a total installed electricity production capacity of 457 MW and a total installed heat production capacity of 81 MW. During 2022, the Company produced 1,118 GWh of electricity, 565 GWh of heat energy and 154 thousand tonnes of wood pellets.


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