Wind Energy – Estonia
Estonian power producer Enefit Green and Japanese Sumitomo Corporation have scrapped plans to jointly develop Estonia’s 1 GW Liivi Bay offshore wind farm due to a lack of state support.
The decision followed an assessment of current market and regulatory conditions in Estonia, said Enefit Green. Current market conditions did not give investors the clarity required to commit billions of euros to offshore wind.
“There is still no clear commitment from the state to introduce contracts for difference or other mechanisms that are essential for such long-term investments in electricity generation,” it added.
In February, Enefit Green sold a 50% stake in its company for the Liivi project to Sumitomo, forming a partnership to jointly develop what would have been Estonia’s first offshore wind farm in the Gulf of Riga.
