Enefit Green signed agreements with SEB and Nordic Investment Bank to raise debt financing

Tallinn, ESTONIA

On 6 January 2023, Enefit Green signed agreements in the amount of EUR 325 million with SEB and Nordic Investment Bank (NIB) to finance its ongoing investment programme.

The amount of the loan agreement signed with the Nordic Investment Bank is 100 million euros and the loan period is 12 years. The total volume of agreements concluded with SEB is up to 225 million euros and the agreed financing period is seven years.

Enefit Green will use this debt financing round for the construction of Sopi-Tootsi, Kelme I and Tolpanvaara wind farms in Estonia, Lithuania and Finland, as well as for the construction of the Purtse solar farm in Estonia.

Enefit Green has taken final investment decisions and proceeded to construction phase with six wind farms and four solar farms in Lithuania, Estonia, Poland and Finland with a total capacity of 596 MW. Upon completion of these facilities over next two years, the total electricity production capacity of Enefit Green will increase to 1,053 MW. The 43 MW Šilale II and 75 MW Akmene wind farms in Lithuania are the first ones to reach commercial operation stage.

Further information:
Sven Kunsing
Head of Finance Communications

Enefit Green is one of the leading diversified renewable energy producers in the Baltic Sea area. The Company owns wind farms in Estonia and Lithuania, cogeneration plants in Estonia and Latvia, solar farms in Estonia and Poland, a pellet plant in Latvia and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries and Finland. As of the end of 2021, the Group had a total installed electricity production capacity of 457 MW and a total installed heat production capacity of 81 MW. During 2021, the Company produced 1,193 GWh of electricity and 618 GWh of heat.