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
investor@enefitgreen.ee
https://enefitgreen.ee/en/investorile/