REG - Eesti Energia AS - Eesti Energia Strategy Update

Enefit Green ASAnnouncement

26/05/2022 08:15

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RNS Number : 8996M  Eesti Energia AS  26 May 2022

Eesti Energia Strategy Update

 

Eesti Energy Supervisory Board has confirmed the Group`s strategic action plan
for the period 2022-2026. Compared to previous strategy more focus has been
allocated to renewable electricity and reducing carbon footprint on home
markets from Finland to Poland. Previous strategy included the addition of
600MW of wind and solar parks by 2025 which takes the total installed capacity
to 1100MW. The updated strategy includes a 4-time increase from the current
installed capacity to 1900MW by 2026. In addition to the currently under
construction wind and solar parks in the capacity of 226MW, by the end of 2026
the Group expects to commission ca 600MW of wind parks in Estonia and
Lithuania, and ca 600MW of solar parks in Baltics and Poland. During the
period of 2022-2026 Eesti Energia intends to invest ca 2 billion euros to
development projects, which to a large extent (in the amount of 1.5 billion
euros) comprise of wind and solar park developments carried out by the Tallinn
Nasdaq Stock exchange listed majority owned subsidiary Enefit Green. In 2026
the Group aims to produce renewable electricity in the amount of 5 TWh
compared to 1.5TWh in 2021. Distribution segment's goal is to enable Estonian
micro producers, mainly new solar capacities, to join the distribution
network. At the end of nearly 12 000 PV producers with a capacity of 385MW
were connected to the distribution network. By the end of 2026 the target is
1100MW of connected production capacity to the distribution network.

 

Rasmus Noormägi

Head of Investor Relations and Treasury

Eesti Energia AS

Lelle 22, 11318 Tallinn

Tel +372 465 2885

rasmus.noormagi@energia.ee

 

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