On 5 January, a news story titled "Government splits Gulf of Riga wind farm from state-owned Eesti Energia" was published in the news portal of the Estonian Public Broadcasting, which could lead to erroneous impression regarding the future of the Gulf of Riga (Liivi) offshore wind project.
Since the IPO in 2021 (incl. in the IPO prospectus) Enefit Green has been referring to the Gulf of Riga (Liivi) project as a project owned by Eesti Energia for which a memorandum of understanding (MoU) has been signed between Enefit Green and Eesti Energia. According to this MoU, Eesti Energia has agreed to offer Enefit Green an opportunity to participate in the project and/or acquire the project on market terms.
In the opinion of the Management Board of Enefit Green, yesterday's government decision does not have a significant impact on the value of Enefit Green's shares.
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.