TALLINN, ESTONIA: Enefit Green AS, a fully owned subsidiary of Eesti Energia AS, signed an agreement to acquire the shares of an Estonian wind park developer Raunistal.
The acquisition consideration payable is confidential according to the agreement between the seller and the buyer.
With the acquisition Enefit Green will also acquire and complete the development of Purtse wind park in the Ida-Viru county in Estonia.
Purtse wind park is expected to be commissioned in 2023 with construction expected to start at the end of this year. The expected capacity of the wind park will be around 20MW, the exact technical details of the Purtse wind park will be known after the completion of the procurement processes.
The acquisition is part of Eesti Energia’s strategy to increase the renewable energy production portfolio in the Baltic Sea region.
Eesti Energia AS is a public limited energy company in Estonia with its headquarters in Tallinn. It is the world’s biggest oil shale to energy company. The company was founded in 1939. As of 2014, it operates in Estonia, Latvia, Lithuania, Finland, Jordan and Utah, United States. www.energia.ee