European Energy nets 'largest' Baltics PPA
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Estonian energy company Eesti Energia has signed the "largest" power purchase agreement (PPA) in the Baltics with Danish renewables energy company European Energy starting in 2023.
The agreement for 3.8 TWh (terrawatt-hour) over 10 years secures renewable energy to an equivalent of what is half of Estonia's annual energy consumption.
The power will come from three wind farms that European Energy is constructing in Lithuania today. Eesti Energia is the leading renewable energy developer in the region through its subsidiary Enefit Green, but co-operation and long-term PPA with other developers allow the company to provide its customers with even greater amounts of clean energy. PPAs allow the customer to fix the electricity price on favorable terms for a long-term period.
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