Evecon and also Mirova to build 100MW Baltic solar project

• The 3 farms are expected to start operating in 2024

Estonian renewable energy developer Evecon OU and also Mirova have actually signed an agreement to establish a renewable energy platform to build a significant Baltic solar farm.

The building and construction works will certainly be performed in 2023 and also the parks will certainly begin creating at complete capacity at the start of 2024.

The overall capacity of the solar farms, situated in Laaneranna, Pohja-Sakala and also Jarva districts in Estonia, is 100MW, and also the estimated annual production depends on 100,000 MWh.

The size of the project situated in Laaneranna is around 70MW, which will certainly make it the largest solar plant in the Baltics at the time of conclusion.

Karl Kull, Evecon OU board member, stated: "Evecon is a fastest growing renewable energy business with an ambitious growth plan in the Baltics and the largest portfolio of solar parks in Estonia. This is undoubtedly a big project, the largest solar park to be integrated in the Baltics.

" Today's transaction is the start of our trip towards an enthusiastic growth strategy that will span over the next six years. By the end of this phase, the firm will have built 2.5 GW of renewable energy in Estonia as well as the Baltic area.

" Our goal is to construct both wind as well as solar storage, in order to cover the power consumption of 540,000 houses and support power supply even after the desynchronization of the Russian electricity grid."

Olena Reznik, Investment Director at Mirova's energy change infrastructure team, included: "The method of Mirova's renewable resource funds has actually always been to take part in developing new installed capacity along with commercial partners as well as project developers.

" We are very delighted with our co-investment with Evecon as well as enjoy to sustain Estonia's aspirations in releasing its very own clean energy manufacturing and also storage capacities. Estonia's current stable power legislation, nationwide renewable energy support mechanism and also an overall strong entrepreneurship spirit in Estonia played a considerable role in our choice to invest in this platform."