Enefit Green, one of the leading renewable energy producers in the Baltic Sea region, has signed investment and liquidity loan agreements with SEB and OP Bank in the amount of 130 million euros for the development of new wind farms.
According to Veiko Räim, Chief Financial Officer at Enefit Green, the recent loans are going to further strengthen the company’s liquidity buffer and financial flexibility.
“Thanks to cooperation with the leading banks in the region, we can implement Enefit Green’s growth strategy and finance investments in our new wind farms that produce carbon-neutral electricity,” Mr Räim commented. “Green electricity is the first to enter the market and the hunger for it is great. The new unsecured loan agreements provide for a three- to the seven-year credit limit.”
Enefit Green, a subsidiary of Eesti Energia, is one of the leading renewable energy producers in the Baltic Sea region. The company owns a total of 22 wind farms, 38 solar power plants, 4 CHP plants, a pellet plant and a hydroelectric power plant, all located in four markets – Estonia, Latvia, Lithuania and Poland. The company produced a total of 1.35 terawatt-hours (TWh) of electricity in 2020.