EnergyWatch

European Energy secures largest PPA in the Baltics

After last year's Covid-infected setback, both appetite and prices are returning to the market, says European Energy as it signs a contract for 3.8 TWh with "true additionality".

An increasing number of European Energy's turbines are set up with financing from a PPA. Now in Lithuania as well. | Photo: European Energy

European Energy has entered its largest power purchase agreement (PPA) to date measured in power provided. The Danish project developer, which last year took decisions on three Lithuanian wind farms totaling 121 MW, has signed a ten-year PPA on a combined 3.8 TWh with Eesti Energia's subsidiary Enefit Green. The deal is around double the size of the hitherto largest one in the Baltics.

"We are very happy to be able to deliver more renewable energy in the Baltics through our wind farms. This is to date the largest PPA signed in the region and we believe that the Baltic market is very keen on a green transition of its energy sector," says European Energy Director of Energy Trading and PPA Jonas Nihøj.

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