Estonia-based energy company Eesti Energia has signed a ten-year power purchase agreement (PPA) with Danish energy developer European Energy for clean energy.
From 2023, 3.8TWh of clean energy will be delivered to the Baltic states from three wind farms being constructed by European Energy in Lithuania.
Go deeper with GlobalData
The PPA is claimed to be the largest signed in the Baltics region to date, and the largest for European Energy in terms of electricity delivered.
The amount of energy to be supplied by European Energy is equivalent to that used by 250,000 Danish private consumers each year.
European Energy trading and PPA director Jonas Lau Forsberg Nihøj said: “We are very happy to be able to deliver more renewable energy in the Baltics through our wind farms.
“This is the largest PPA signed in the region to date, and we believe that the Baltic market is very keen on a green transition of its energy sector.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEesti Energia management board member Margus Vals said: “As an international energy company, our mission is to strive for smarter customer solutions and cleaner energy production. We are constantly looking for new ways to grow our green energy portfolio.
“This is another landmark deal that helps our customers all over the Baltics to implement the green transition more quickly, choose renewable energy and fix electricity costs at a very good price point.”
Last February, Eesti Energia won an auction for the Tootsi wind farm property, a 160ha plot situated in the south-west of Estonia.
The auction was organised by the State Forest Management Centre, the state agency in charge of maintaining state forests and natural habitats.
Founded in 2004, European Energy builds and constructs wind and solar farms across the world. It currently operates in more than 11 European countries, with expanded activities in the US and Brazil.
