The Sumitomo Corporation (SC) and Enefit Green have signed an agreement that outlines the start of strategic partnership to develop the first offshore wind farm in the Gulf of Riga in the Baltic Sea.
According to the agreement, Enefit Green will sell a 50 per cent stake in Liivi Offshore, the project company for the Liivi Bay offshore wind farm, to SC.
"The project expects to participate in the upcoming auction to be held by the Estonian government, which will be the backbone for the project to invite international lenders and suppliers, with expected completion of the construction of the wind farm in 2032," said Enefit.
The Liivi Bay offshore wind farm will consist of up to 84 turbines with a maximum total capacity of 1,000 MW, with an annual electricity production of up to four terawatt-hours. The farm's location is in the Gulf of Riga, 11 kilometres from Kihnu Island and 16 kilometres from Häädemeeste.