Final Investment Decision of 43MW Wind Park in Lithuania
Eesti Energia Group’s Supervisory Board has given consent to the final investment decision for the construction and commissioning of the 43MW Silale II wind park in Lithuania developed by Enefit Green AS, 100% subsidiary of Eesti Energia. As a result of the Supervisory Board’s decision, relevant agreements have been signed between the 100% subsidiary part of the Enefit Green AS group, UAB Silales vejas, and the provider of wind turbines, General Electric.
The investment decision will enable Eesti Energia Group to realize the growth plan of renewable electricity production. Silale II wind park shall include up to 12 wind turbines with a nominal capacity of 3.6 MW. The total investment is up to 60 million euros and the annual forecasted production of the wind power station is about 160 GWh. Eesti Energia Group’s current annual renewable electricity production from wind and solar assets is around 1.1 TWh.
The wind park’s commissiong is expected to take place in the beginning of 2023. The revenue of the wind park is hedged through Power Purchase Agreement (PPA) through the co-operation of Eesti Energia’s client services unit that has strong Baltic coverage. This has enabled Eesti Energia Group to find electricity consumers willing to buy the renewable energy of the to-be-constructed Silale II 43 MW wind park. As of June 2021, customers have bought roughly 80% of the wind park's first five years of production.