Estonian energy company Eesti Energia has signed a power purchase agreement with Danish energy developer European Energy for 3.8 TWh over 10 years starting in 2023. The agreement secures renewable energy to an equivalent of what is half of Estonia’s annual energy consumption.
Eesti Energia is a leading renewable energy developer in the region through its subsidiary Enefit Green, but co-operation and long-term power purchase agreements with other developers allow the company to provide its customers with even greater amounts of clean energy.
Power purchase agreements allow the customer to fix the electricity price on favourable terms for a long-term period. In 2021, over 100 agreements have been signed with large companies all over the Baltics. The total volume sold by Eesti Energia to customers exceeds 2 TWh.
The power will come from three wind farms that European Energy is constructing in Lithuania.
European Energy is a renewable energy developer, which builds and constructs wind and solar farms across the world. It was founded in 2004 in Denmark and is today present in more than 11 European countries with expanded activities in the USA and Brazil.
Eesti Energia's strategic goal is to offer an excellent customer experience with the help of digital solutions and to reach 1m customers in the Baltic Sea region by 2024.