Economics, Energy, Estonia, Investments

The support can be applied to for investments into wind energy park technology, construction, installation of generators. Such funding has not been used before, the ministry said.

Wind energy producers who get the investment support will not get the renewable energy subsidies paid according to the electricity market law. Thus the price of electricity via the renewable energy tax will not increase with these investments, said minister Juhan Parts.

The deadline for applications is January 11, 2011 and the money for the investments comes from Estonian state selling excess CO2 quota to Spain.

Currently there are around 150 MW of wind energy generators in Estonia. The budget of the plan agreed upon with Spain enables to install around 27 MNW worth of generators more.

According to forecasts, renewable electricity forms nearly 10% of gross consumption this year in Estonia and should be at least 15% in 2020.