Eesti Energia sells Finnish wind farm after failing to recover investment

Eesti Energia has exited the Finnish market after failing to recoup its investments in its sole wind farm. The company sold the Tolpanvaara wind farm for approximately 83 million euros. The sale of the 72 MW wind farm, located in northern Finland, was to TD Greystone Infrastructure Fund and Rabbalshede Kraft AB. Enefit Green, a subsidiary of Eesti Energia, cited a lack of long-term power purchase agreements and reliance on volatile market electricity prices as reasons for the departure. This move allows Enefit Green to refocus on its operations in the Baltic states and Poland. The company had invested around 83 million euros in the Tolpanvaara project, which was constructed between 2021 and 2024.