Enefit Green

Earnings Release • Nov 10, 2023

Company	Enefit Green AS
Type	Company Release
Category	Other corporate action
Disclosure time	10 Nov 2023 09:55:00 +0200

Currency

Enefit Green production data – October 2023 Title

Enefit Green produced 168.2 GWh of electricity in October, which is 55.4% more than in the same period last year. The production result was driven primarily by the production from new wind and solar farms under construction and/or completed this year - accounting for 3/4 of the added production (+44.2 GWh of the total +60GWh additional electricity production compared to October 2022).

The average wind speeds in October were 7.4 m/s and 8.3 m/s in Estonian and Lithuanian wind farms respectively (6.9 m/s and 6.7 m/s, respectively, in comparative period).

October cogeneration segment production volumes of electricity and heat changed by -8.3% and +32.7% year-over-year. The main reason for this difference was a prolonged breakdown on the electricity generation side of the Broceni cogeneration plant, which had no impact on the production of thermal energy or pellets. The failure was eliminated by the beginning of November. At the same time, compared to last year, we produced significantly more electricity and heat at the Iru waste-to-energy power plant, which helped to compensate for the impact of the Broceni downtime - the total electricity production of the cogeneration segment decreased by 1GWh over the year. In October, there were also shorter-term stoppages at the Iru waste-to-energy power plant, during which we used natural gas to produce thermal energy for district heating.

October pellet production remained at a stable level compared to last year and amounted to 14 thousand tonnes.

"The peak season of wind energy production has taken off to a good start. Given the favourable weather conditions and new wind and solar farms, we increased October electricity production by more than 50% compared to the last year. Our focus is on maintaining the availability of the production assets to end the year with the highest possible production results," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.

Finantsinspektsioon http://www.fi.ee

Electricity production by countries, GWh
Estonia	80.5	67.2	19.8%
Lithuania	83.9	35.8	134.5%
Latvia	1.4	4.1	-65.1%
Poland	1.5	1.2	24.2%
Finland	0.9	-	-
Total	168.2	108.2	55.4%
Electricity production by segment, GWh
Wind	152.7	93.5	63.3%
incl. new wind farms	42.2	-	-
Cogeneration	11.9	12.9	-8.3%
Solar	3.5	1.8	98.6%
incl. new solar farms	2.0	-	-
Other	0.1	0.0	118.5%
Total	168.2	108.2	55.4%
Heat energy, GWh	54.0	40.7	32.7%
Pellets, th t	14.0	14.2	-1.4%
Further information:

Sven Kunsing Head of Finance Communications investor@enefitgreen.ee (https://www.globenewswire.com/Tracker?data=eahglFI0K4UUxwsmqXkQdO3N_ld1uojlGTE_ vteiKcyQu1wfu3r9tXxEfe64TI9iPjXXdLcA-1wKJKK402r4cwPqdjBXLG-Ga36PZFEEUJ4=)

Finantsinspektsioon http://www.fi.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 operates 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