Enefit Green

M&A Activity • Feb 19, 2025

Enefit Green partners with Sumitomo Corporation to develop Gulf of Riga offshore wind farm

Enefit Green has signed an agreement with Sumitomo Corporation, a leading global
trading and investment company and a Fortune Global 500 company, to sell 50%
stake of Liivi Offshore OÜ, a project company for Liivi Bay offshore wind
project.

The start of this strategic partnership demonstrates a clear commitment to
building the first offshore wind farm in the Gulf of Riga in the Baltic Sea,
marking a significant step in advancing offshore wind energy development in the
Baltic countries.

According to the agreement, obtaining approval from the Estonian Consumer
Protection and Technical Regulatory Authority is a precondition for closing of
the transaction.

The value of the transaction will not be disclosed. The transaction does not
have a material effect on Enefit Green's financial results.

Sumitomo Corporation is an integrated trading and business investment company
with a strong global network. The Group's business activities are spread across
the following nine groups: Steel, Automotive, Transportation & Construction
Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral
Resources, Chemicals Solutions and Energy Transformation Business.

Further information:
Sven Kunsing
Head of Finance Communications
[email protected]

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