Enefit Green production data – July 2024

Enefit Green produced 94.1 GWh of electricity in July, which is 15.1% more than in the same period last year. The production result was mainly driven by new – both newly completed wind and solar farms and those under construction in Lithuania, Finland, Poland and Estonia. These new assets contributed more than 40% of Enefit Green’s total electricity production.

As is typical for the mid-summer season, wind conditions were moderate. The average wind speed in July was 5.3 m/s, both in Estonian and Lithuanian wind farms (in July 2023, 5.5 m/s and 6.0 m/s, respectively). In Tolpanvaara wind farm (Finland) the average wind speed was recorded at 5.8 m/s.

The electricity and heat energy production of the cogeneration segment declined (by -66.7% and -64.4% y-o-y, respectively). The decline is largely explained by sale of biomass assets in previous quarters. Electricity and heat energy production in Iru power station declined by 40% and 17% respectively, which was related to longer than planned maintenance stops.

Solar energy production grew by 10.1% y-o-y driven by 22.2% growth in production from new solar farms. Total production of the solar energy reached 11.2 GWh or ca 12% of Enefit Green’s total electricity production in July.

"Our focus remains on the completion and commissioning of the large Sopi-Tootsi and Kelme I wind farms (combined capacity 335 MW) currently under construction. The goal is to have as many turbines as possible in these wind farms producing electricity by the autumn wind season. The current mid-summer weather, with its typically modest wind conditions, has been ideal for this, allowing us to be prepared for the necessary grid tests during the windier autumn period.

Regarding other assets, production results were typical for the mid-summer period. In Lithuania, we observed low output from wind farms due to weak wind conditions and lower availability in the new wind farms due to commissioning tests and related works. Work continues on improving the availability of the new wind farms and stabilizing output, with the necessary grid tests expected to be completed by autumn, followed by full-capacity testing. In line with this summer's trends, we curtailed electricity production during hours of negative market prices also in July, reducing output volume by nearly 5 GWh," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.

Further information:
Sven Kunsing
Head of Finance Communications
investor@enefitgreen.ee
https://enefitgreen.ee/en/investorile/

Enefit Green is one of the leading renewable energy producers in the Baltic Sea area. The Company operates wind farms in Estonia and Lithuania, waste-to-energy CHP plant in Estonia, solar farms in Estonia and Poland and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries, Latvia and Finland. As of the end of Q2 2024, the Company had a total installed electricity production capacity of 587 MW and a total installed heat production capacity of 50 MW. During 2023, the Company produced 1,343 GWh of electricity, 604 GWh of heat energy and 156 thousand tonnes of wood pellets. In the end of 2023, Enefit Green exited the biomass based CHP and pellet production businesses.