Eesti Energia signs largest renewables power purchase deal in the Baltics

Estonian state-controlled utility Eesti Energiy has signed a ten-year power purchase agreement with wind developer European Energy for 3.8TWh, the equivalent of half of the Baltic country’s annual energy consumption.

The power will be delivered from three wind farms being built by the developer in neighbouring Lithuania

“As an international energy company, our mission is to strive for smarter customer solutions and cleaner energy production. We are constantly looking for new ways to grow our green energy portfolio,” said Eesti Energia board member Margus Vals.

“This is another landmark deal which helps our customers all over the Baltics to faster implement the green transition, choose renewable energy and fix electricity costs at a very good price point.”

Eesti Energia, which also develops its own wind farms through its Enefit Green subsidiary, is the biggest renewables developer in the Baltic states, and targets to reach 1 million customers across the Baltic Sea region by 2024.

Eesti Energia so far has signed over one hundred PPAs with large companies all over the Baltics, with a volume exceeding 2TWh.

“We are very happy to be able to deliver more renewable energy in the Baltics through our wind farms,” said Jonas Lau Forsberg Nihoj, director of energy trading and PPA at European Energy.

“This is to date the largest PPA signed in the region and we believe that the Baltic market is very keen on a green transition of its energy sector.”

European Energy late last year ordered GE 5.5MW turbines for a 121MW wind project close to the Lithuanian capital of Vilnius, which due to the small size of the Baltic nation will boost Lithuania’s wind power capacity by y quarter.