Energy, Estonia, Good for Business, Investments, Lithuania

The wind farm that will be completed in the second half of 2016, is Lithuania's biggest, the company said. It will produce about 230 GWh of electricity per year, satisfying about 2 percent of the country's annual electricity needs.

Nelja Energia Chairman of the Board Martin Kruus said that with the new wind energy park, the volume of investments the company makes in Lithuania doubles. So far, Nelja Energia has invested EUR 120 million in Lithuania.

The new wind farm's energy utilisation factor is more than 40 percent, far better than the average of 25 percent of the older Lithuanian wind farms, the company said. The electricity will be sold in the next 12 years at a fixed price of EUR 69.5/MWh. Only Kaunas hydroelectric power station produces electricity at a lower price than that.

The wind energy park will consist of 24 General Electric 2.5 MW wind turbines. The height of them is 110 meters and diameter of propellers is 120 meters.

Nelja Energia, which belongs to Norwegian company Vardar Eurus, the EBRD and Estonian investors, is Lithuania's and the Baltic States' largest producer of wind energy. Together with the Silute project, the company has in Lithuania five wind farms with total capacity of 139MW. Along with a new wind farm, the company will produce more than 430 GWh of electricity per year, covering four percent of Lithuania's annual electricity needs.