Enefit to build Estonia’s largest wind farm
02 October 2023
Eesti Energia’s subsidiary, Enefit Green, has secured a €180 million loan from the European Investment Bank (EIB) for the 255MW Sopi-Tootsi wind farm project.
The proposed wind farm will be the largest currently under construction in Estonia, comprising 38 Nordex 6.8MW turbines.
Construction work on the project is already underway, with the wind farm due to be operational by the second quarter of 2025.
The energy output of the Sopi-Tootsi wind farm is expected to equate to 40% of the annual electricity consumption of Estonian households.
The loan from the European Investment Bank (EIB) is part of its broader package of support for REPowerEU, a comprehensive strategy designed to decrease Europe’s dependence on fossil fuel imports.
Major renewables drive
Enefit Green made the final investment decisions for both the Sopi-Tootsi wind farm and the 80MW Kelme I wind farm in Lithuania in December 2022.
These combined projects have a total development cost of €527 million.
Furthermore, in May 2023, Enefit Green announced its ambitious plans to construct a 74MW solar park adjacent to the Sopi-Tootsi wind farm, representing a substantial €44 million investment.
Veiko Räim, board member and chief financial officer of Enefit, said, “Enefit has a clear roadmap to quadruple production capacity by 2026 to increase the supply of affordable green energy and improve energy security.
“We are grateful for the trust and support that the EIB is showing towards our growth ambitions. This loan agreement not only provides us with the necessary financial resources to fuel our project, but it also reaffirms our common commitment to creating a cleaner, more sustainable future for generations to come.”