Energy, Estonia, Forum

According to BC, the Minister of Economic Affairs and Communications Juhan Parts, who gave a speech at the seminar, recalled the singularity of Estonian energy production – we produce 70% of the world’s oil shale energy. At the same time, the oil shale supplies of the USA make up 73% of the oil shale reserve of the whole world.

The Minister emphasised that in addition to contributing to renewable energy, clean energy production also means cleaner technologies in the use of fossil fuels, and stated that Estonia is very much interested in such cooperation. “Instead of complaining about oil shale energy which produces a lot of CO2, new ways must be found for producing cleaner energy from oil shale through the aid of modern technologies," Parts said.

“Investments into wind energy are also expected, but the main issue here is the saving of energy for the time when the wind is not blowing,” he added.

The seminar Nordic Green, held at Silicon Valley near San Francisco on 21-22 April, was the joint initiative of Denmark, Norway, Estonia, Finland and Sweden. The seminar was attended by scientists and businessmen from all Nordic countries and Estonia, and US companies were also present. Estonian companies were represented by, for example, Eesti Energia, Elcogen, which deals with fuel elements, and Yoga Intelligence, which provides systematic administration of various devices and processes.

Engagement in green energy technologies is becoming one of the most attractive fields of business in the United States of America, especially in the State of California. More siliceous sand is being used for making solar panels than computer chips. The companies operating in the green technology sector have become the new favourites of venture capitalists – $2.4 billion was invested into these companies in the third quarter of 2007.