Estonia’s Ministry of Climate has drawn up an updated national energy and climate plan that includes more ambitious renewable energy and climate neutrality targets, ERR reports. Under the plan, Estonia would produce all power from renewable energy sources by 2030 and be completely climate neutral by 2050. Climate Minister Kristen Michal asserted that the plan…
Lithuanian asset management firm Modus Asset Management’s Clean Energy Infrastructure Fund will acquire Estonian renewable energy company Evecon’s solar farm portfolio in Latvia for an undisclosed sum, The Baltic Times reports. The portfolio consists of ten ground-mounted solar farms with bifacial solar panels and a total installed capacity of 55 MW. The portfolio is close…
Estonia’s privately-owned energy group, Utilitas, posted sales revenue of EUR 255.9mn in 2022, which was up from EUR 159.9mn in 2021, ERR reports. Production and sale of heat and electricity accounted for 94% of total revenue. The rest came from renewable energy subsidies and other sales. Utilitas produced 2.2 TWh of heat and electricity in…
Lithuania’s National Energy Regulatory Council (VERT) is due to declare state-owned renewable energy company Ignitis Renewables and its strategic partner, Spain-based Ocean Winds, as provisional winners of Lithuania’s first auction to develop an offshore wind farm, GlobeNewswire reports. The two companies bid EUR 20mn for the contract, under which they will obtain the right to develop…
The Nordic Investment Bank (NIB) has signed an agreement with Latvian capital Riga’s heating supplier, Rigas Siltums, on a ten-year loan of EUR 20mn, LSM reports. Rigas Siltums will use the funds to finance its 2022-2023 investment programme to improve the district heating infrastructure in Riga. The company will invest a total of EUR 29mn…