Press release
Elektrum Eesti, 14.06.24
Elektrum Eesti Increases Investments in Renewable Energy
On Thursday, June 13, Elektrum Eesti inaugurated a solar park in Lüganuse, Ida-Viru County. This solar park, with a total capacity of 7 MW, is the company’s first large-scale solar project. Significant expansions are expected in the coming years as part of Elektrum Eesti's growth plans.
The opening of the Lüganuse solar park marks the initial step in Elektrum Eesti’s broader plans. "The capability to produce renewable energy is crucial for the company. We expect substantial additions in both solar and wind energy production. Our goal is to increase our renewable energy capacity in Estonia to 400 MW in the coming years," said Andrus Liivand, a member of Elektrum Eesti’s management board.
The solar park’s opening is also significant for Latvenergo, the parent company of Elektrum. Latvenergo’s strategy envisions a robust increase in the share of renewable energy across the Baltic States. "We operate in a single market, and by combining forces and engaging in pan-Baltic cooperation, we can achieve the energy independence we all need. We aim to maintain our leadership position in the Baltic energy market and plan to invest up to half a billion euros in Estonia this decade for suitable renewable energy projects," stated Agnes Makk, Chairman of the Board of Elektrum Eesti.
Construction of the Lüganuse solar park began in July of the previous year, with a total cost of approximately 3 million euros. The solar power plant consists of 10,780 solar panels with a total capacity of 7 megawatts, producing around 7000 MWh of electricity annually, enough to cover the consumption of 1500 average households. At the opening ceremony, Elektrum Eesti donated 7000 euros—equivalent to 1 euro per installed megawatt—to the 330-year-old Lüganuse School, Estonia’s oldest, to support youth technology education and modernize its robotics classroom.
Elektrum Eesti has been operating in the market for 11 years and recently expanded its customer base by 50% in June, thanks to winning the universal service tender at the end of last year. Managing the electric vehicle charging network is one of Elektrum Eesti's key areas. The Elektrum Drive network currently includes 60 charging points, with significant growth expected soon. "In partnership with Elektrum's collaborators, we aim to reach 1000 charging points by 2030, and this year alone, we will invest 17 million euros in developing charging infrastructure," added Makk.
Elektrum Eesti is an energy sales company that, in addition to electricity, also provides natural gas, solar energy, and electric vehicle charging solutions under the Elektrum Drive brand. Elektrum Eesti is part of the Latvenergo Group, one of the largest energy suppliers in Europe and the largest in the Baltic region. The group serves 800,000 customers across the Baltics, with 60% of its energy production coming from renewable sources.