Enefit Green

Environmental & Social Information • May 25, 2023

Company	Enefit Green AS
Type	Company Release
Category	Other corporate action
Disclosure time	25 May 2023 15:30:00 +0300

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Enefit Green has taken final investment decision on 74 MW Sopi solar farm Title

Enefit Green has taken final investment decision on 74 MW Sopi solar farm in Estonia. The project is part of Enefit Green's previously communicated near-term project pipeline to quadruple its installed electricity generation capacity to 1,900 MW by the end of 2026.

Sopi solar farm is expected to be commissioned in 2025 and is expected to generate ca 75 GWh electricity per year. Enefit Green will invest nearly 44 million EUR in this project.

Together with the 255 MW Sopi-Tootsi wind farm being constructed nearby, Enefit Green will invest a total of nearly 350 million euros in the Sopi-Tootsi renewable energy area. The expected combined annual production of the wind and solar farms to be built in the Sopi-Tootsi renewable energy area is 754 GWh, which covers about 9% of the total electricity consumption in Estonia.

In order to increase the revenue certainty of the investment, Enefit Green is also concluding a contract for the sale of electricity for a part of the expected production, which will be an addition to the already concluded electricity sales contracts supporting the construction of the Sopi-Tootsi wind farm.

Further information: Sven Kunsing Head of Finance 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==)

Finantsinspektsioon http://www.fi.ee

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