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Estonia must ensure an excellent investment environment to meet renewables targets, says Minister

Estonia’s Minister of Economic Affairs and Infrastructure Riina Sikkut praised the progress made by onshore wind farms in the country and, together with future offshore wind farms, the country is expected to exceed the targets set for 2030.

“A lot of preliminary work has been performed in order to launch new renewable energy capacities and it will yield results in the next few years,” said the Minister. “However, we will only be able to achieve Estonia’s renewable energy targets if we ensure an excellent investment environment for companies in order to develop renewable energy.”

The State has set the goal of covering all of the consumption from renewable energy by 2030. Consumption forecasts show that for achieving this, Estonia must produce at least 9.4 terawatt-hours (TWh) of renewable energy per year. For comparison, in 2021, the production of renewable energy reaching the power grid amounted to 2.88 TWh, which comprised 29 per cent of the total consumption of electricity.

According to the Minister, the interest of renewable energy developers in the creation of new production capacities is currently at a very high level.

“Companies wish to contribute more to renewable energy and there is no doubt that in the near future, a steadily increasing volume of feasible production of renewable energy will enter the market,” he said. “Numerous wind energy projects are currently in various stages of development, as seen in the comprehensive and specific plans of local governments. Furthermore, a total of 44 applications for superficies licences for constructing offshore wind farms have been submitted to the Consumer Protection and Technical Regulatory Authority as of now. Likewise, the high level of interest of developers can be observed in the reverse auctions for renewable energy where the volumes desired by the state have been exceeded manifold.”

According to Minister Riina Sikkut, the most cost-efficient methods for consumers must be found in order to boost the increase in the production of renewable energy.

“We will soon announce a new major reverse auction of renewable energy, but in addition, we are also planning to draw up an analysis as to whether and in what volume we require auctions pertaining specifically to technology, for example, for creating offshore wind farms, in order to meet our state goals” he noted. “At the same time, work is ongoing in relation to accelerating the processes for permit proceedings, and this year, the Consumer Protection and Technical Regulatory Authority is planning to announce auctions for superficies licences of maritime areas.”

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