REG - Eesti Energia AS - Investment Decision of 72MW Wind Park in Finland
23/12/2021 12:00
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211223:nRSW6446Wa&default-theme=true 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 (mailto:rasmus.noormagi@energia.ee) This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END UPDFLFEIFRLVFIL