Renewable energy producer Enefit Green AS (TAL:EGR1T) announced today it has taken the final investment decision (FID) on the 74-MW Sopi solar project at home in Estonia, with plans to commission the facility in 2025.
Enefit Green said it will be making a combined investment of almost EUR 350 million (USD 375.4m) in this project and the nearby Sopi-Tootsi wind farm of 255 MW. The sum to be invested in the solar project alone amounts to EUR 44 million.
Upon completion of the entire complex, the Sopi-Tootsi parks will be generating 754 GWh per year. The company is currently concluding a contract for the sale of a portion of the solar output.
The Sopi solar project is part of the company’s near-term project pipeline through which it hopes to quadruple its installed power generation capacity to 1,900 MW by the end of 2026. As of end-2022, Enefit Green had 457 MW of power plants in operation along with 81 MW of total installed heat production capacity.
(EUR 1.0 = USD 1.072)