In February, Enefit Green produced 136.3 GWh of electricity, which is 14% less than a year ago. The wind speeds measured in Estonian and Lithuanian wind farms were significantly lower in February than last year, which was the main reason for the decrease in production.
The volume of wind energy production in February was 121.4 GWh, which is 16% lower than a year ago.
Due to low wind speeds in Estonia and Lithuania, the average wind speed in February was 5.4 m/s across the portfolio (February 2024: 7.1 m/s), which affected the production of wind farms by about -82.1 GWh compared to expectations. The average wind speed measured in Tolpanvaara wind farm (Finland) was 7.9 m/s, but it was also slightly lower than last year (8.1 m/s). As a significant number of new wind turbines were added to the production portfolio last year, we are publishing average wind speeds weighted by the capacity of wind turbines from the beginning of 2025.
Curtailing production due to excessively low electricity prices on the Finnish market had a negative 10 GWh impact on the volume of production. System services in amount of 4,9 GWh were offered to the Lithuanian and TSOs. This is made possible by high degree of digitalisation of company’s assets and are providing the company additional revenue on top of electricity sales. Availability impact of wind farms on production was approximately –1.9 GWh in February, mainly caused by maintenance activities and network tests in the final phase of the construction of new wind farms. Availability of the operating wind farms was at the expected level.
Until the end of February, the year-on-year comparison of the energy production of the cogeneration segment was influenced by the sale of biomass-based cogeneration assets, which was finalised in the first quarter of 2024. In February, the Iru cogeneration plant, which remains the only production unit of the segment, generated 10.0 GWh (-5.4%) of electricity and 32.6 GWh (-11.8%) of thermal energy. The availability of Iru was 100.0% in February and there were no stoppages at the station.
The volume of solar energy production in February was 4.8 GWh, which is nearly 2.3 times higher than last year, mainly due to the production from new Sopi solar farm (production in February 1.8 GWh). Two solar farms in Latvia that have been under construction also started production in February.
“The production result in February was significantly below expectations due to exceptionally calm weather. While February has generally been a windy month, with the average wind speed of the last five years being 7.2 m/s in Estonian parks and 7.6 m/s in Lithuania, the wind speed during this February has been more than 30% lower in Estonia and more than 25% lower in Lithuania than the average of five previous years. Based on a long-term forecast model, the probability of such a low wind speed being realised was estimated at 7%. According to the data of the Estonian Environment Agency, it was the calmest February of last ten years, and in some Estonian measuring stations even of last 35 years.
We can’t do much about the wind conditions, but there were also topics that brought us satisfaction and pleasure in February – for example, the start of close to full-scale production at Kelme I wind farm and Latvian solar farms.
On the positive side, we can also mention wind discounts in the Estonian (-14%) and Lithuanian (-16%) markets, which remained at a level comparable to the first quarter of last year. In Finland, the discount on wind energy is unfortunately still at a very high level of -45%. With electricity prices close to zero a lot of energy will be left unproduced by us on that market,” commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.
| February 2025 | February 2024 | Change, % | |
| Electricity production by countries, GWh | |||
| Estonia | 69.1 | 69.0 | 0.2% |
| Lithuania | 51.4 | 72.4 | -29.0% |
| Latvia | 0.4 | 0.8 | -57.9% |
| Poland | 1.7 | 1.1 | 57.7% |
| Finland | 13.7 | 15.8 | -13.3% |
| Total | 136.3 | 159.1 | -14.4% |
| Electricity production by segment, GWh | |||
| Wind | 121.4 | 144.6 | -16.1% |
| incl. new wind farms | 73.0 | 52.9 | 37.8% |
| Cogeneration | 10.0 | 12.3 | -19.1% |
| incl. assets sold | – | 1.8 | -100.0% |
| Solar | 4.8 | 2.1 | 128.4% |
| incl. new solar farms | 3.6 | 1.2 | 205.7% |
| Other | 0.2 | 0.1 | 80.7% |
| Total | 136.3 | 159.1 | -14.4% |
| Heat energy, GWh | 32.6 | 45.5 | -28.4% |
| incl. assets sold | – | 8.5 | -100.0% |
Further information:
Sven Kunsing
Head of Finance Communications
investor@enefitgreen.ee
https://enefitgreen.ee/en/investorile/
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