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Eesti Energia signs record green energy PPA in Lithuania

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Eesti Energia has signed an agreement (PPA) with the Lithuanian wind energy company E energija to buy all the renewable energy generated by the future wind farm in ten years time.

This is the largest such transaction in the Baltics in history.

The latest E energija Telšiai 68.9 MW wind farm, to be launched in 2022, will generate 235 GWh of renewable energy per year, which will cover nearly 80.000 the annual energy use of households.

In terms of electricity production this will be the largest wind park in Lithuania.

In addition to household customers, Eesti Energia will provide business clients with wind energy and build more incentives for companies and make their activities more environmentally sustainable.

Historically such a long-term and large-scale procurement deal for renewable energy was never concluded in the Baltics. Thanks to a strong partnership with E energija, SEB and GE, the biggest green energy purchase agreement in the Baltics has been made possible.

“As an international energy company, our task in every home market is to strive for smarter customer solutions and cleaner energy production. We want to do this in many ways, which is why we contribute both as a developer of renewable energy and as a buyer of it, in order to offer our customers even more clean energy. We are constantly looking for new ways to grow our green energy portfolio.”

Margus Vals, member of the Eesti Energia management board.

The 68,9 MW wind farm to be built by E-energija is located in the Tryškiai region of western Lithuania and will start operating in 2022. The energy purchase agreement is valid until 2032.

“We, as E energija, are happy to be at the forefront of the renewable energy development and to sign the first significant PPA transaction in the Baltics. By building the first subsidy-free wind farm in the region, we open the door for the transition of the whole Baltic energy system and we thank Eesti Energia for supporting our goals in these turbulent times.”

Gediminas Uloza, the CEO of E energija.

“Climate in Lithuania makes wind energy broadly available and a competitive source of energy, which means that it must play a significant role in reaching the joint goals of the European Union and also securing the necessary amount of electricity production for the whole country. Investments to wind energy are important to support energy independence, answer the increasing demand of energy and maintaining competitive energy price for households and companies. We’re currently in the middle of energy transformation and in this process banks can play a significant role by offering suitable financial solutions. That’s the reason why financing companies advancing clean energy is a priority to SEB.”

Vilius Juzikis, member of the management board of SEB bankas.

“Our international brand Enefit has successfully grown its reputation in Lithuania and the company has an important advantage both in terms of price and the content of the offer. Locally produced electricity is of great value to people and we are happy to be able to offer it.”

Margus Vals, member of the Eesti Energia management board.

GE and E energija are co-sponsors of the Telšiai onshore wind farm project, with GE delivering 13 of its 5.3MW of Cypress wind turbines, the largest onshore wind turbine in the field, and delivering the onshore wind farm with a 25-year Full Services Agreement (FSA).

Nedim Husomanovic

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