Enefit Green : production data - February 2024

Enefit Green
Company Announcement Enefit Green production data - February 2024

Enefit Green produced 159.2 GWh of electricity in February, which is 32.7% more than in the same period last year. The production result was mainly driven by new - both completed and under construction wind farms in Lithuania, Finland and Estonia.

The average wind speeds in February were 6.5 m/s and 7.3 m/s, in Estonian and Lithuanian wind farms respectively (in February 2023, 6.9 m/s and 6.8 m/s, respectively). In Tolpanvaara wind farm (Finland) the average wind speed was recorded at 8.1 m/s.

"We produced about a third more electricity in February than a year ago. In Lithuania, better wind conditions helped. In new wind farms which are about to be completed the majority of wind turbines produce electricity, and this led to higher production there. Our focus is on maintaining high availability of existing production assets and ensuring safe construction activities in wind farms under construction, as well as performing grid compliance tests," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.

The electricity and heat energy production of the cogeneration segment declined notably (by -21% and -17% y-o-y, respectively), as in Q4 2023 Enefit Green sold biomass-fired CHP and pellet factory in Broceni (Latvia).

For the last time Enefit Green's February 2024 production figures include electricity and heat energy production data from Valka and Paide CHPs as the sale of these CHPs to Utilitas has been concluded by the end of February. These CHPs produced a combined 1.8 GWh of electricity and 8.5 GWh of heat energy in February 2024.

Iru power station (the asset forming Enefit Green's cogeneration segment going forward) produced 10.5 GWh of electricity and 36.9 GWh of heat energy in February 2024 (11.4 GWh and 34.8 GWh respectively in February 2023).

	February 2024	February 2023	Change, %
Electricity production by countries, GWh
Estonia	69.0	69.7	-0.9%
Lithuania	72.4	46.4	55.9%
Latvia	0.8	3.2	-73.6%
Poland	1.1	0.7	70.2%
Finland	15.8	-	-
Total	159.2	119.9	32.7%
Electricity production by segment, GWh
Wind	144.6	103.2	40.1%
incl. new wind farms	52.9	10.3	413.0%
Cogeneration	12.3	15.6	-20.9%
Solar	2.1	0.9	137.0%
incl. new solar farms	1.2	-	-
Other	0.1	0.2	-52.1%
Total	159.2	119.9	32.7%
Heat energy, GWh	45.5	55.0	-17.3%

Further information:
Sven Kunsing
Head of Finance Communications
[e-mail]
https://enefitgreen.ee/en/investorile/

Enefit Green is one of the leading renewable energy producers in the Baltic Sea area. The Company operates wind farms in Estonia and Lithuania, waste-to-energy CHP plant in Estonia, solar farms in Estonia and Poland and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries, Latvia and Finland. As of the end of 2023, the Company had a total installed electricity production capacity of 515 MW and a total installed heat production capacity of 50 MW. During 2023, the Company produced 1,343 GWh of electricity, 604 GWh of heat energy and 156 thousand tonnes of wood pellets. In the end of 2023, Enefit Green exited the biomass based CHP and pellet production businesses.