Enefit Green inks deal for 1-GW offshore wind project in Gulf of Riga

Estonian renewables developer Enefit Green AS (TAL:EGR1T) has clinched a deal to acquire an offshore wind project with a targeted capacity of 1 GW in the Gulf of Riga from state-owned energy company Eesti Energia AS.

Enefit Green will buy the Liivi Offshore OÜ project for nearly EUR 6.2 million (USD 6.71m), the company said in a press release on Wednesday.

Preliminary work on the project has already been launched, including an environmental impact study and technical analysis, as well as a plan for the construction of the network connection.

Enefit Green is a diversified renewable energy producer with a portfolio of wind, solar, hydro, and co-generation plants in markets such as Estonia, Lithuania, Latvia, and Poland. The company produced 1.12 MWh of electricity, 565 GWh of heat energy and 154,000 tonnes of wood pellets in 2022.

The Estonian firm earlier this year secured EUR 325 million in financing for its ongoing investment programme.

(EUR 1 = USD 1.083)

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