Eesti Energia raised 400 million euros of green hybrid bonds, listed on the London Stock Exchange to support its business and strengthen its financial position.
Eesti Energia will build its first large-scale storage device at the Auvere industrial complex later this year to balance the fluctuations in electricity prices caused by the growth in renewable energy production and to support the stability of the electrical system.
Next year, Eesti Energia would like to launch Estonia's first pilot project for a large-scale energy storage device to make sure the solution is suitable both in the country and the company’s other retail markets.
Eesti Energia signed an agreement of common intentions with Geothermal Balticfor the construction of a geothermal test borehole in Narva, on the property of Enefit Power.
The Supervisory Board of the Estonian energy company, Eesti Energia, confirmed Andrus Durejko, the current CEO of Ericsson Estonia, as the new Chairman of the Management Board from 1 April.
Last week, Eesti Energia signed an agreement with Engineering Firm Steiger to start the pre-FEED study of its planned pumped-storage hydroelectric power plant with the purpose of determining the exact location for the necessary facilities and specifying the investment cost.
The joint agency of Enterprise Estonia and KredEx has allocated more than 580,000 euros for Eesti Energia to prepare the construction of Estonia's first hydroelectric energy storage facility at the Estonia Mine site in Ida-Virumaa.
Eesti Energia has taken the next step to build the country’s first pumped-storage hydroelectric power plant, starting to carry out its preliminary design and environmental impact assessment.