Enefit Green purchases Gulf of Riga wind farm project for €6.5 million
Eesti Energia subsidiary Enefit Green has purchased a Gulf of Riga offshore wind farm development from its parent company, at a price tag of close to €6.2 million. The purchase was subject to a government order.
The aim is for the offshore wind farm, rated at 1GW, to start generating electricity before 2030, and follows a 2021 agreement between Eesti Energia and Danish energy multi-national Ørsted, to commence work on the project.
Liivi Offshore OÜ, the company which Enefit Green, Eesti Energia's renewables arm, purchased, is developing the Gulf of Riga offshore wind farm, to join another 1.1GW offshore development north of Hiiumaa, slated to go on line after 2030.
The development area is situated off the southwest coast of Estonia, between the island of Kihnu, and Häädemeeeste, on the mainland.
The Minister of Finance approved the transfer of Liivi Offshore OÜ from Eesti Energia to Enefit Green, which the transaction and contractual preparation and auditing followed.
The government had authorized the finance minister to oversee the operation in January, and the ministry duly approved the plan last month.
As noted the planned Gulf of Riga offshore wind farm will have a 1GW capacity and projected production will be 4TWh per year.
Environmental impact and technical analysis is now underway, while the state has initiated a special plan to establish the planned wind farm's connection to the national grid.
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Editor: Andrew Whyte, Marko Tooming
