2020-11-28
http://w3.windfair.net/wind-energy/news/35147-estonia-latvia-offshore-wind-farm-mou-eu-support-grid-price-renewable-energy-site-market

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Wind Industry Profile of


Baltic Cooperation in Offshore Wind

The governments of Estonia and Latvia have signed a memorandum of understanding to develop a joint offshore wind farm in the Gulf of Riga.

Image: PixabayImage: Pixabay

According to Estonian Prime Minister Jüri Ratas, in order to meet the renewable energy target set for 2030, investments must be made in various renewable energy sources, and offshore wind energy has a growing and increasingly important role to play. “The offshore wind farm area developed jointly by Estonia and Latvia is a unique project that contributes to the achievement of the countries’ renewable energy goals and creates new opportunities for other offshore farm developments,” he said in a press statement.

The countries want to build the offshore wind farm together thus to apply for EU support for a cross-border project. “This, in turn, makes it cheaper to build other wind farms in the area, as other projects in the same area would also benefit from the grid infrastructure to be built for the farm,” said Estonian Minister of Economic Affairs and Infrastructure Taavi Aas.

The two countries will jointly carry out studies to determine the best location for an offshore wind farm between Estonia and Latvia taking into account wind conditions, plans, existing projects, environmental protection, and all other factors. With the necessary studies at hand and permits obtained, an auction will be held.

“An open competition ensures equal treatment of market participants, the lowest possible price of renewable energy for consumers, and the efficient use of our marine resources,” said Aas. “Additionally, a large offshore wind farm will contribute to the region’s security of electricity supply and help attract foreign investors.”

The capacity of the proposed offshore wind farm is up to 1,000 MW with completion expected in 2030. The wind farm would produce approximately 3.5 terawatt-hours of electricity per year, which is approximately 40 percent of Estonia’s annual electricity consumption.

Source:
Estonian Government
Author:
Windfair Editors
Email:
press@windfair.net
Keywords:
Estonia, Latvia, offshore, wind farm, MoU, EU, support, grid, price, renewable energy, site, market



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