Sweden's Eolus eyes Baltic renewables growth

Swedish renewables developer Eolus Vind AB (STO:EOLU-B) plans to add new projects in Lithuania to its portfolio in the Baltics, where it already has developments in Latvia and Estonia and is getting ready to realise them.

Chief executive Per Witalisson said so in a statement on Monday, as the company unveiled the appointment of Inga Abolina as Head of Baltics. According to him, the Baltics have great potential.

“Now it is time to start realising renewable energy projects in Latvia and Estonia and add new projects to our portfolio also in Lithuania,” Witalisson stated. In the Baltics, Eolus has so far built an onshore wind project portfolio of 700 MW, with developments in Latvia and Estonia.

Abolina, who is about to take office on October 24, has experience as CFO and board member of Latvian natural gas company Latvijas Gaze and director of project management of state-owned energy provider Latvenergo.

“The new geopolitical and energy market realities put additional stress to the Baltic States for full integration with the continental Europe and require additional local electrical capacities. The Baltic terrain ensures great potential for renewable energy and as a part of Eolus I will have a chance to contribute to the transition to a sustainable energy system,” Abolina commented.

Apart from the Nordic and Baltic markets, Eolus is also active in Poland and the US. On Friday, the company clinched a deal to offload a mid-stage solar-plus-storage project of 750 MW in the state of Arizona.

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