Enefit Green

Business and Financial Review • Jun 12, 2023

Company	Enefit Green AS
Type	Company Release
Category	Other corporate action
Disclosure time	12 Jun 2023 09:00:00 +0300

Currency

Enefit Green production data – May 2023 Title

Enefit Green produced 87.0 GWh of electricity in May, which is 12% less than in the same period last year. The production result was mainly influenced by lower production in Estonian wind farms due to lower wind conditions.

New wind farms in Lithuania, Estonia and new solar farms in Estonia and Poland all helped boost electricity production (+16.2 GWh combined).

The average wind speeds in May were 5.2 m/s and 5.3 m/s, respectively in Estonian and Lithuanian wind farms (in May 2022, the measured average wind speeds were 6.2 m/s and 6.0 m/s, respectively).

The electricity and heat energy production of the cogeneration segment was also lower, decreasing by 16% and by 18% respectively compared to the same month last year. This was largely due to planned maintenances in Iru WtE, Paide CHP and Valka CHP. Pellet production increased by 34% compared to a year earlier to 14.3 thousand tons. The maintenance works are reoccurring annually, but with some timing shifts between weeks and months of different years.

	May 2023	May 2022	Change, %
Electricity production by countries, GWh
Estonia	49.7	62.6	-21%
Lithuania	30.3	31.1	-3%
Latvia	2.8	3.0	-8%
Poland	4.2	2.7	57%
Total	87.0	99.4	-12%

Finantsinspektsioon http://www.fi.ee

Electricity production by segment, GWh
Wind	62.5	79.5	-21%
incl. new wind farms	9.6	-	-
Cogeneration	12.8	15.3	-16%
Solar	11.7	4.6	155%
incl. new solar farms	6.6	-	-
Other	0.1	0.1	-9%
Total	87.0	99.4	-12%
Heat energy, GWh	41.7	50.7	-18%
Pellets, th t	14.3	10.7	34%

Further information: Kadri Korsten Head of Communications investor@enefitgreen.ee

(https://www.globenewswire.com/Tracker?data=eahglFI0K4UUxwsmqXkQdO3N_ld1uojlGTE_ vteiKcyQu1wfu3r9tXxEfe64TI9iPjXXdLcA-1wKJKK402r4cwPqdjBXLG-Ga36PZFEEUJ4=)https://enefitgreen.ee/en/investorile/ (https://www.globenewswire.com/Tracker?data=2hvtWZj2Sah7P5FHBmegLeIoMx1_pu7PK9v_ TsWBkf9HVGRVBco0gBWNAR8sTIf_RfHfPw1v74a_H6m3SjVkIBzGyIVVbjGOe57EOq9 agKg8ttz2h5EHYmF0la-hs-rAYHvQm2Fvlu3QknP8tcDCA==)

Enefit Green is one of the leading diversified renewable energy producers in the Baltic Sea area. The Company wind farms in Estonia and Lithuania, cogeneration plants in Estonia and Latvia, solar farms in Estonia and Poland, a pellet plant in Latvia and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries and Finland. As of the end of 2022, the Company had a total installed electricity production capacity of 457 MW and a total installed heat production capacity of 81 MW. During 2022, the Company produced 1,118 GWh of electricity, 565 GWh of heat energy and 154 thousand tonnes of wood pellets.

Finantsinspektsioon http://www.fi.ee