A Regional Wind Giant Emerges
Wind farm companies Freenergy and Vardar Eurus have been merged into the existing Nelja Energia OÜ, forming a company that directly controls 17 wind farms in the three Baltic states.
The assets of the company after merger will be 335 million euros.
Nelja Energia said the new structure will provide momentum for completing power plants in progress. It will also expand into other fields, above all biomass.
"In the next years, we will invest 15 million euros into Baltic renewable energy, to which the cost of an offshore wind farm will be added," Nelja Energia director Martin Kruus said.
Kruus said that both Latvia, where capacity is only one-sixth of Estonia's, and Lithuania where the Ignalina nuclear plant was closed in 2010, are promising areas.
Kristopher Rikken