The Estonian energy company Eesti Energia has signed a power purchase agreement (PPA) for a new 1.8 terawatt-hour (TWh) wind farm in Lithuania with a European clean energy development platform Aquila Clean Energy EMEA, Eesti Energia announced on Monday (13 February).
Under the agreement, Eesti Energia will be supplied with clean energy on a long-term basis. The power will be produced by a wind farm which is being developed by Aquila Clean Energy in Lithuania.
PPAs provide revenue security for project developers as well as supply security for energy companies, Eesti Energia said.
“We are delighted to have concluded a power purchase agreement in Lithuania for the first time. The country is very interesting for the operation of wind power plants due to its favourable geographic conditions. Against this background, we are pleased to have found a very experienced and reliable contractual partner in Eesti Energia, which will purchase electricity on a long-term basis,” said Joakim Johnsen, Head of Markets & Operations at Aquila Clean Energy comments.
Eesti Energia produces and sells energy and energy solutions in Estonia, Latvia, Lithuania, Poland and Finland. As part of its operations, the company holds an extensive clean energy portfolio via its subsidiary Enefit Green.
“As an international energy company, our mission is to strive for smarter customer solutions and cleaner energy production. We are constantly looking for new ways to grow our green energy portfolio. This is another landmark deal which helps our customers all over the Baltics to implement the green energy transition faster and fix electricity costs at a very good price point. Electricity prices secured for such a long time are unique in today’s uncertain world,” said Margus Vals, Member of the Management Board of Eesti Energia.
Aquila Clean Energy EMEA is Aquila Capital’s clean energy platform in Europe. Aquila Clean Energy is a Spanish energy company specialising in clean energy assets using the technologies of solar, wind, hydropower and battery storage. At present, Aquila Clean Energy manages a portfolio with a total capacity of more than 9.5 gigawatts (GW).
