EGR1T ENEFIT GREEN AS

Enefit Green partners with Sumitomo Corporation to develop Gulf of Riga offshore wind farm

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





EN
19/02/2025

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