Eesti Energia AS Investment Decision of 72MW Wind Park in Finland (6446W)

TIDM96DB

RNS Number : 6446W

Eesti Energia AS

23 December 2021

Final Investment Decision of 72MW Wind Park in Finland

Eesti Energia Group's renewable subsidiary Enefit Green has taken final investment decision for the construction and commissioning of the 72MW Tolpanvaara wind park in Finland. Total investment in the wind farm is projected to reach 82.9 million euros. The construction agreement is being prepared, the construction process will start in the first quarter of 2022. Wind turbines will be delivered by Nordex. Enefit Green acquired Tolpanvaara project from Finnish state forest management company Metsähallitus in 2020.

The Tolpanvaara wind park will consist of 13 turbines, commissioning is expected in the end of 2023 and the expected level of annual electricity generation at ca 250 GWh. Enefit Green has signed a long-term Power Purchase Agreement (PPA) covering 60% of the first seven years' expected production of Tolpanvaara find farm through collaboration with Eesti Energia's Client Services unit.

The investment decision will enable Eesti Energia Group to realize the growth plan of renewable electricity production, at least doubling its installed electricity generation capacity to 1,100 MW by 2025. In 2021 Eesti Energia group has taken investment decisions for 190MW of wind developments with total investments at 228 million euros.

Rasmus Noormägi

Head of Investor Relations and Treasury

Eesti Energia AS

Tel: +372 465 2885

rasmus.noormagi@energia.ee

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December 23, 2021 05:57 ET (10:57 GMT)

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