Sumitomo steps in to Estonian offshore wind market

In a statement about the deal with the Japanese company, Enefit Green said, “The start of this strategic partnership demonstrates a clear commitment to building the first offshore windfarm in the Gulf of Riga in the Baltic.”

The company said the deal with Sumitomo was “a significant step,” advancing offshore wind energy development in the Baltic.

Obtaining approval from the Estonian Consumer Protection and Technical Regulatory Authority is a precondition for closing the transaction.

An environmental impact assessment for the Liivi Bay windfarm has been completed, which confirmed that, with appropriate mitigation measures, it would not have a significant negative impact on the environment.

If built, the windfarm could meet half of Estonia’s current electricity consumption and boost economic development.

Enefit said it would not disclose the value of the transaction, and said it does not have a material effect on Enefit Green’s financial results.