Enefit Green borrows 130 million euros for the construction of wind farms :: Dienas Bizness

Electricity trader in Latvia Enefit this year it is planned to triple the capacity of solar energy solutions installed during the year, informs the company.

Last year, in total, Enefit sold 1 TWh of electricity and 637 GWh of natural gas to the Latvian market last year, reaching a turnover of 57.66 million euros, which has remained practically unchanged compared to 2019. A significant part of the customer portfolio consists of long-term fixed price contracts, which were largely affected by the fall in prices in the energy markets and the fall in energy demand caused by Covid-19. As a result, part of the energy purchased by customers had to be sold on the secondary market below cost. Thus, on an annual basis, the company has operated with a loss of 1.17 million euros, ensuring long-term liabilities to customers.

At the same time, Enefit has purposefully developed both its customer portfolio and range of services. “Last year, we acquired the right to provide the last guaranteed delivery service of natural gas to business customers, as well as a successful procurement strategy allowed us to double the volume of natural gas sales. The development of technical and energy efficiency services also helped to grow the total customer portfolio by 231% during the year and to close the year with 2,912 legal and 16,008 household customers. The fastest growth is in the household segment, where we tripled the number of customers last year, ”says Krists Mertens, CEO of Enefit.

Last year, a total of 0.7 megawatt solar energy solutions were installed in Latvia, and this year it is planned to increase this amount three times – to at least 2.1 megawatts. In 2020, several new products were launched in the market. In cooperation with the sister company SIA Enefit Green and its pellet plant in Brocēni, the sale of pellets to households has started. In Kolka, in the fish processing company Līcis-93, installed Enefit the first liquefied natural gas station.

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Also this year, the company’s development focus is on renewable energy and energy efficiency solutions. “There is still a huge potential for development in the field of solar energy, where households are currently the most active. However, for companies, the production of energy for own consumption is also emerging as the next logical step after improving energy efficiency. This year we also plan to acquire a new market segment by offering the installation of electric car charging equipment in order to promote the development of electric transport infrastructure in Latvia. In turn, we will offer companies a demand aggregation solution, which envisages the possibility to regulate customer consumption in moments when there is a high demand or price in the market, ”says K. Mertens.

In introducing new products, the company focuses on cooperation between green energy producers and consumers based on mutual benefits. This year, a long-term electricity purchase agreement (PPA) solution is being introduced in the Baltic market, which allows companies to purchase renewable energy from a specific wind farm. Thus, the company can get a better electricity price for a longer period of time, but wind power producers have the opportunity to plan their development in a stable way.

Enefit has been operating in the Latvian electricity market since 2006, when it started selling electricity to business customers. In the field of energy production in Latvia, “Enefit” has been operating since 2011, when it acquired a majority stake in the heat company “Enefit Power & Heat Valka”. In 2012, the company built a cogeneration plant that operates with biofuel and supplies heat to the city of Valka.

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Enefit is a subsidiary of the Estonian state energy company Eesti Energia.

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