Estonia’s Enefit Green eyes procurement of up to 500MW of solar modules

Facebook
Twitter
LinkedIn
Reddit
Email
Enefit Green currently has a portfolio of 38 solar projects in Estonia and Poland. Image: Enefit Green.

Enefit Green, the renewables subsidiary of Estonian state-owned utility Eesti Energia, is looking to procure up to 500MW of solar modules in the next three years.

The company is currently creating a pre-qualified pool of partners, from which it will make module purchases totalling as much as €100 million (US$113 million) in the next 36 months.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The amount of modules that Enefit Green will source depends on market prices and may range from 350MW to 500MW, the company said in a statement sent to PV Tech.

With a current portfolio of 38 PV projects in Estonia and Poland, Enefit Green’s solar expansion forms part of the company’s efforts to increase its renewables operating capacity from 457MW today to 1.1GW by 2025.

The firm is now listed on Tallinn Stock Exchange after raising €175 million in an oversubscribed initial public offering last month, with the proceeds to be used to develop and operate renewables projects across the Baltic states and Poland.

Among the participants in the offering were the European Bank for Reconstruction and Development (EBRD), which invested €11.8 million for a 1.5% stake in the company.

“The EBRD’s participation is an important contribution to the IPO and shows its strong support to our journey towards a greener and more sustainable future,” said Enefit Green CFO Veiko Räim following the offering last month.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

June 5, 2025
Indian solar module manufacturer Vikram Solar has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO) and raise capital through the public markets.
June 3, 2025
Danish renewables firm European Energy has secured a €145 million (US$158 million) long-term loan to finance a 78.5MW solar park co-located with a 50MW battery storage plant in Anykščiai, Lithuania.
May 29, 2025
R.Power has sold a 49.9% stake in two of its special-purpose vehicles, which are developing a solar portfolio of 91.6MWp.
May 2, 2025
The European Commission (EC) has allocated €52 million to nine renewable energy projects as part of its cross-border auction process.
April 15, 2025
Korean chemical firm OCI Holdings has reportedly paused public listing plans for its Malaysian polysilicon business amid global stock market uncertainty.
March 12, 2025
Estonian IPP Sunly has secured a €62 million (US$68 million) loan to build and operate the Baltics 'largest' PV plant.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece