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Eesti Energia to quadruple renewable electricity generation by 2026

The renewable electricity generation capacity of Eesti Energia, operating in Finland, the Baltic States and Poland, will have nearly quadrupled by the end of 2026 compared to today, as the strategy of the energy group envisages for the next five years. During that period, Eesti Energia plans to invest approximately 2 billion euros in new development projects, most of which will go for new wind farms and solar parks.

Whereas the previous action plan envisaged an increase of 600 megawatts (MW) in new wind farms and solar parks to 1,100 MW by 2025, then now the even more ambitious growth plan for renewable energy envisages more than quadrupling today’s production capacity (457 MW) to about 1,900 MW by 2026.

“Finding a balance between energy affordability, environmental impact and security of supply has become a socially critical issue in all of Eesti Energia’s home markets,” said Hando Sutter, CEO of Eesti Energia and Chairman of the Supervisory Board of Enefit Green.

“The fastest and most cost-effective solution for society is electrification through renewable electricity replacing fossil energy sources, such as motor fuels in transport or natural gas in thermal energy,” he added. “We have promised our customers to provide them with a sufficient amount of renewable electricity in this energy revolution, either by producing it ourselves or by purchasing it from other developers.”

Upon implementation of the five-year plan, Eesti Energia’s annual production of renewable electricity promises to reach a total of nearly 5 terawatt-hours (TWh) in home markets by 2026, compared to 1.5 TWh in 2021. Such an amount of renewable electricity can cover the annual electricity consumption of up to 1.5 million average households.

Of new power plants, the Tolpanvaara (72 MW) wind farm in Finland, the Akmene (75 MW) and Šilale II (43 MW) wind farms in Lithuania, the Purtse (21 MW) wind farm in Estonia and two solar parks in Poland (15 MW) – a total of 226 MW – are currently under construction.

In addition to these projects, nearly 600 MW of onshore wind farms will be completed in Estonia and Lithuania by the end of 2026, as well as nearly 600 MW of solar power plants in Estonia, Latvia, Lithuania and Poland.

“We have given a name to our transition to carbon-free production and wider introduction of energy solutions based on green electricity: Journey to Zero. At the same time, Eesti Energia’s customers, by fixing their electricity costs for years and consuming clean local energy, offer us investment security, helping us build new wind farms and solar parks in a mutually beneficial “green” partnership,” Mr Sutter explained.

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