Enefit Green Reports Significant Growth in August's Energy Production

Enefit Green's Remarkable Electricity Production Surge

Enefit Green has made impressive strides in electricity production, generating a total of 106.7 GWh in August. This marks a 29.1% increase from the same month the previous year, highlighting the company's continuous efforts to expand its renewable energy capabilities. The increase in production can largely be attributed to new wind and solar farm projects across various countries, with nearly 40% of the total electricity produced coming from these facilities, including ongoing projects under construction.

Factors Contributing to Production Growth

Several factors contributed to the significant rise in electricity output. The average wind speed during August was recorded at 5.5 m/s, surpassing expectations by 0.2 m/s. Among the notable sites, the Tolpanvaara wind farm in Finland showed a remarkable performance, with wind speeds exceeding expectations by 0.5 m/s. This resulted in an additional 6.8 GWh in electricity production compared to projections. However, production curtailments were also a factor, implemented during hours with negative market prices to enhance financial outcomes in the wind energy segment. These curtailments limited production by 10 GWh across different regions.

Operational Challenges and Maintenance Impacts

The Iru power plant experienced some setbacks due to an unexpectedly prolonged maintenance period, which stemmed from comprehensive repairs needed for the boiler's masonry. The completion of these repairs is anticipated to positively influence future production levels. Furthermore, changes in the cogeneration segment continue to reflect results from the sale of biomass-based assets, which occurred in the earlier quarters of this year.

Performance of Solar and Wind Energy

Solar energy generation saw a significant boost, with production increasing by 26.5% compared to August of the previous year. Solar facilities in Estonia and Poland collectively produced around 0.7 GWh more than forecasted, aided by ideal weather conditions and high system availability. Wind farms also performed exceptionally well, achieving an overall operational availability rate of 94.6%, slightly exceeding the planned metrics. Lithuanian wind farms demonstrated outstanding availability at 96.4%, a notable increase of 13.3 percentage points year-on-year, while the Tolpanvaara wind farm achieved a new milestone with 96.9% availability.

Summary of Production Data

The performance metrics outlined below summarize the electricity production across different regions and segments:

Electricity Production by Country (GWh)

Estonia: 51.7 GWh (8.8% increase)
Lithuania: 37.5 GWh (32.0% increase)
Poland: 4.5 GWh (33.7% increase)
Finland: 13.0 GWh (5,504.7% increase)
Total Production: 106.7 GWh (29.1% increase)

Electricity Production by Segment (GWh)

Wind: 84.4 GWh (43.0% increase)
Solar: 10.7 GWh (26.5% increase)
Cogeneration: 11.5 GWh (-24.0% decrease)

Future Outlook and Company Overview

Enefit Green continues to position itself as a leader in the renewable energy sector, actively pursuing advancements in wind and solar energy production. The company operates various enterprises in the Baltic region and has a robust pipeline for future growth, including several wind and solar projects in development. At the end of Q2 2024, Enefit Green boasted a total installed electricity production capacity of 587 MW. The company remains committed to meeting the growing energy needs of its markets while promoting sustainable energy solutions.

Further Information

For additional inquiries, please contact:
Sven Kunsing
Head of Finance Communications
Email: investor@enefitgreen.ee

Frequently Asked Questions

What was Enefit Green's total electricity production in August?

Enefit Green produced a total of 106.7 GWh of electricity in August 2024.

How does this year's production compare to last year?

This year's production reflects a 29.1% increase compared to August 2023.

What factors affected the production levels in August?

Production was influenced by new wind and solar farms, along with curtailments during hours of negative market pricing.

What was the operational availability of Enefit Green's wind farms?

The overall availability of wind farms in August was 94.6%, exceeding the planned availability by 1.1 percentage points.

How has Enefit Green expanded its operations recently?

The company has enhanced its production capacity through the commissioning of new wind and solar energy projects across multiple countries.

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