Eesti Energia AS to buy owner of 20MW wind project
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Estonian state-owned energy company Eesti Energia AS announced an agreement to buy domestic wind project developer Raunistal, which owns a 20MW (megawatt) wind project in the most northeastern part of Estonia, according to a report by Energia.ee.
The acquisition will be carried out through Enefit Green, Eesti Energia's renewables arm, the latter said in a bourse filing, adding that the deal aligns with its plan to expand its renewables fleet in the Baltic Sea region. Financial details were not provided upon a mutual agreement between the parties.
Tallinn-based Raunistal was set up in 2005 as a subsidiary of Canadian renewable energy developer and investor Greta Energy Inc to develop a 20-MW wind project in Estonia. After buying Raunistal, Enegit Green will take possession of the so-called Purtse scheme and will complete its development. To be installed in Estonia's Ida-Viru County, the wind farm is planned to be switched on in 2023. Its construction will begin at the e nd of this year.
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