NORD/LB, Swedbank grant EUR 87m for Estonian wind farm

German lender Nord/LB and Swedbank Estonia have provided an EUR 87 million (USD 95.1m) financing package for the 75-MW Aidu wind farm project in Estonia, jointly developed by the Sonajalg family and Dirkshof.

The financing is granted for 67.5 MW of the total capacity, Nord/LB said on Wednesday.

The two banks contributed EUR 43.5 million each to the funding.

The project, which is located in Ida-Viru County, northeastern Estonia, is equally owned by the Sõnajalg family and German company Dirkshof. The wind farm began producing electricity in June 2024.

"In Aidu windfarm an annual output of 12 million kilowatt hours per turbine is to be expected, which means a saving in CO2 emissions of 135,000 tons - a valuable, sustainable contribution to environmental protection,” commented Dirkshof's chief executive Dirk Ketelsen.

The wind farm supports Estonia's goal to increase the share of renewable energy to at least 42% by 2030 as intended under the 2030 National Energy and Climate Plan (NECP 2030).

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