Enefit Green has acquired the 1GW Liivi offshore wind farm project from Eesti Energia and will continue development work to start large-scale renewable electricity production before 2030.
Enefit Green snapped up the project company, Liivi Offshore OÜ, for €6.2m.
The offshore wind farm will be located in the Gulf of Riga. At present, the surveys required to evaluate the site’s environmental impact and the preliminary technical analysis of the project are being conducted.
The Estonian state has initiated spatial planning for the construction of a wind farm grid connection.
In 2021, Eesti Energia signed a cooperation agreement with Ørsted, the world’s leading offshore wind developer, to build an offshore project.
According to Aavo Kärmas, Chairman of the Management Board of Enefit Green, offshore wind energy development will play a significant role in the expansion of renewable energy production in the upcoming years.
He said: “Estonia aims to generate a significantly higher amount of renewable electricity by 2030, and offshore wind energy is expected to be a critical component in achieving this goal. Therefore, it is crucial to sustain the pace of development work.
“The Liivi offshore wind farm is among the most progressive projects in the Baltic States, and the development project is geared towards commencing production before 2030.”
On 5 January, the Estonian government authorised the Minister of Finance to decide on the separation of the Liivi offshore wind farm from Eesti Energia via division.
In February, the Minister of Finance approved the division plan of Eesti Energia AS and green lit the Articles of Association of Liivi Offshore OÜ.
In March, the Minister of Finance granted permission for the transfer of Liivi Offshore OÜ to Enefit Green, followed by the preparation of the transaction and an audit of the terms.