Enefit Green, a prominent renewable energy company, has recently announced its final investment decision regarding the development of a 74MW solar farm in Estonia. This strategic move is in line with Enefit Green's ambitious plan to significantly increase its electricity generation capacity by fourfold, reaching an impressive 1900MW by the end of 2026.
Known as the Sopi project, the solar farm is scheduled to be operational by 2025. To bring this sustainable initiative to fruition, Enefit Green will allocate approximately €44m in investments. This endeavor aligns with the company's broader objective to promote clean and renewable energy sources.
Moreover, Enefit Green's commitment to expanding the Sopi-Tootsi renewable energy area is evident through the concurrent construction of the Sopi-Tootsi wind farm, boasting an impressive capacity of 255MW. In total, Enefit Green plans to invest close to €350m in the development of this renewable energy zone.
The combined annual energy production from the Sopi-Tootsi wind and solar farms is projected to meet around 9% of Estonia's total electricity consumption. This significant contribution underscores Enefit Green's dedication to advancing sustainable solutions and reducing the nation's reliance on traditional power sources.
In an effort to secure revenue stability for this substantial investment, Enefit Green is actively finalizing a contract for the sale of electricity, encompassing a portion of the expected production. This agreement will complement the existing electricity sales contracts that have already been established to support the construction of the Sopi-Tootsi wind farm.
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The decision to invest in the Sopi solar farm not only highlights Enefit Green's commitment to renewable energy, but it also represents a significant step toward Estonia's sustainable future. By bolstering their renewable energy portfolio and diversifying the energy mix, Enefit Green is setting a commendable example for other companies and nations aiming to combat climate change and embrace clean energy alternatives.
