Enefit Green and Sumitomo Corporation (SC) have signed an agreement to form a strategic partnership for the development of the Liivi Bay offshore wind farm in the Gulf of Riga, Estonia, according to Enefit Green's release. As part of the agreement, Enefit Green is selling a 50% stake in Liivi Offshore OÜ, the project company, to Sumitomo Corporation.
Hiroyuki FUJIOKA, Head of Overseas Energy Solution Unit No.2, Sumitomo Corporation, stated, “Estonia is one of the attractive emerging offshore wind markets, and the Liivi Bay offshore wind farm, developed by Enefit Green, is one of the most attractive projects in the market.”
Juhan Aguraiuja, Chairman of the Management Board of Enefit Green, said, “To deliver such a large energy infrastructure a strategic partnership with a global trading house such as SC enables us to accelerate the development of the Liivi Bay offshore wind farm by combining international expertise and experience in construction of offshore wind farms.”
The Liivi Bay offshore wind farm is planned to consist of up to 84 turbines with a maximum total capacity of 1000 MW, with an annual electricity production of up to four terawatt-hours. The project is expected to participate in the upcoming Estonian government auction, with construction targeted for completion in 2032.
Enefit Green is a leading renewable energy producer in the Baltic Sea region, operating wind, solar, and waste-to-energy plants.
Sumitomo Corporation is a global trading and business investment company with diverse business activities.