Estonian energy company Eesti Energia has signed a power purchase agreement with Danish energy developer European Energy for 3.8 terawatt-hours over 10 years starting in 2023; the agreement secures renewable energy to an equivalent of what is half of Estonia’s annual energy consumption.
Eesti Energia is a leading renewable energy developer in the Baltic region through its subsidiary, Enefit Green, but co-operation and long-term power purchase agreements with other developers allow the company to provide its customers with even greater amounts of clean energy, the company said in a statement.
“Power purchase agreements allow the customer to fix the electricity price on favorable terms for a long-term period,” the company added. “In 2021, over one hundred agreements have been signed with large companies all over the Baltics. The total volume sold by Eesti Energia to customers exceeds two terawatt-hours.”
The power will come from three wind farms that European Energy is constructing in Lithuania.
European Energy is a renewable energy developer that builds and constructs wind and solar farms across the world. It was founded in 2004 in Denmark and is today present in more than 11 European countries with expanded activities in the USA and Brazil.
Eesti Energia is an Estonian energy company, headquartered in Tallinn. It is one of the world’s biggest oil shale to energy companies. It was founded in 1939 and it operates in Estonia, Latvia, Lithuania, Finland and Poland.
Cover: A wind farm in Europe. The photo is illustrative. Photot by Zbynek Burival/Unsplash.