Enefit Green has signed a 12-year €80m term loan contract with the Nordic Investment Bank.
The company will use the loan to finance the construction of the 118MW Silale 2 and Akmene wind farms in Lithuania that started last year, as well as the Purtse wind farm planned in Estonia.
Enefit Green management board member Veiko Raim said: “Enefit Green has a goal to increase the availability of carbon-free and environmentally sustainable electricity in all its home markets from Finland to Poland.
“To implement our growth plan, we shall invest up to €600m in wind and solar parks in the coming years.
“Cooperation with a strategic financial partner confirms that the planned projects are sustainable, and availability of green energy is important for Estonia and all neighbouring countries.”
Meanwhile, Enefit Green’s total energy generation from renewable electricity was 114.4 gigawatt-hours in December, 13.5% less than in the same period last year.
The result was mainly driven by lower wind energy production at its Lithuanian and Estonian wind farms.
Average wind speeds were lower in the countries – 6.8 metres a second (m/s) at Lithuania and 6.9 m/s in Estonia, compared with 7.9 m/s and 7.4m/s respectively in December 2020.