Enefit Green, the renewables subsidiary of state energy generator Eesti Energia, has inked a €130-million loan deal, which will be used to finance new wind farms.
Veiko Räim, Enefit Green CEO, said that: "Thanks to cooperation with the leading banks in the region, we can implement Enefit Green's growth strategy and finance investments in our new wind farms that produce carbon-neutral electricity. Green electricity is the first to enter the market and the hunger for it is great."
The loans have been signed with two Nordic lenders, SEB and OP Bank, and total €130 million.
Anders Larsson, Head of Corporate Banking at SEB Baltic Division said of the deal that: "Our ambition is to be the leading financier of renewable energy in the Nordic and Baltic countries. It is a pleasure to be Enefit Green's financing partner, supporting the company's growth plans."
Hannes Kaadu, Country Manager of OP Corporate Bank's Estonian branch said that: "Enefit Green's investments in renewable energy and OP's values and goals for the development of a greener environment and society are very well matched. We are pleased to be part of Enefit Green's investments in the green future of Estonia."
Enefit Green owns and operates 22 wind farms, 38 solar power plants, 4 CHP plants, a pellet plant and a hydroelectric power plant, in Estonia, Latvia, Lithuania and Poland, and it generated a total of 1.35 terawatt-hours (TWh) of electricity in 2020, the company says.
Editor: Andrew Whyte