Estonian renewable energy developer Eesti Energia signed a five-year Power Purchase Agreement (PPA) with Octopus Renewables based on which it will buy 1.4 terawatt-hours (TWh) wind energy from Octopus’ wind park in Finland.
The agreement is one of the largest PPA deals signed in the Baltics and secures the equal amount of renewable energy that 425,000 Estonian private consumers would use annually.
“As an international energy company, our mission is to strive for smarter customer solutions and cleaner energy production […]. This is another landmark deal which brings more green energy to consumers and helps to faster implement the green transition,” underscored Margus Vals, Member of the Management Board in Eesti Energia.
The Octopus wind park will start commercial operations in 2022 and produce 280 gigawatt-hours of clean electricity annually.
Eesti Energia is an international energy company operating in the CEE region’s Estonia, Latvia, Lithuania, and Poland as well as in Finland, Jordana and the United States.
The United Kingdom-based Octopus Renewables, on the other hand, manages more than 300 solar, onshore wind and biomass projects worth over 3.4 billion pounds.