Eesti Energia to Sell Off Historic Põltsamaa Hydroelectric Plant
Anyone shopping for a power plant should take note that Eesti Energia is selling off its property at the Põltsamaa Hydroelectric Plant, including the 1930s-era plant building.
Though the facility has not been functional since 1994, the deal that comes with project plans to outfit the site with a modern hydroelectric generator and the capability of connecting to the power network.
The property will be sold via public auction at a starting price of 55,000 euros, Eesti Energia announced.
According to Innar Kaasik, head of the department of renewable energy and co-generation at Eesti Energia, developing the Põltsamaa hydroelectric plant might interest investors who want to expand their product portfolio or companies that operate smaller hydroelectric plants in Estonia and can apply for investment subsidies from the EU structural funds.
Eesti Energia owns the historical building plant, while the town of Põltsamaa owns the dam and the accompanying facilities.
According to the company, the new owner of the property will not be obligated to continue developing the site as a hydroelectric plant.
Sigrid Maasen