Posts Tagged ‘Energy’
EIB and Iberdrola sign a €500 million green loan for the Windanker offshore wind farm in German Baltic Sea
The European Investment Bank (EIB) has signed a €500 million green loan to Iberdrola for the Windanker offshore wind farm, a flagship clean energy project currently under construction in the German Baltic Sea.
The financing is guaranteed by the Spanish export credit agency, Cesce. This transaction with Iberdrola marks the inaugural use of a guarantee developed by the EIB and Cesce, to support green projects led by Spanish companies outside Spain, contributing to the European Union’s climate action and environmental sustainability objectives.
The new project will generate clean energy for thousands of homes, accelerate Europe’s electrification and energy security, driving new employment, economic opportunity, and state-of-the-art renewable energy innovation.
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Originally published on 3 Nov
Read MoreEIB backs upgrades of Finland’s Olkiluoto nuclear power plant with €90 million in financing
The European Investment Bank (EIB) is lending Finnish energy supplier Teollisuuden Voima Oyj (TVO) €90 million to upgrade two nuclear power units in Finland. The project involves reactors 1 and 2 of a power plant on the southwestern island of Olkiluoto and aims to ensure continued safe, low-carbon electricity generation in line with national and European Union rules.
TVO plans to update automation and control systems and replace components known as steam separators in the Olkiluoto 1 and 2 units. The upgrades, which will be implemented progressively over a multi-year timeline, are essential for maintaining high safety standards and operational reliability at the Olkiluoto power plant, which has a total of three units.
The planned improvements are required under Finnish and EU nuclear-safety legislation. They are part of TVO’s long-term investment programme to ensure safe and efficient operation of the Olkiluoto plant and follow other EIB-backed enhancements at the site in 2016.
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Originally published on 30 Oct
Read MoreNew background analyses on the perspectives of Energy Island Bornholm
Baltic Energy Island has commissioned three analytical documents to serve as a foundation for discussions about the perspectives Energy Island Bornholm holds for Bornholm’s future development.
The studies follow up on a socio-economic analysis conducted by the Centre for Regional and Tourism Research (CRT) in 2023, which examined the local economic and employment effects of the Energy Island project.
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Originally published on 31 Oct
Read More145 MW Stelpe solar farm reaches full commercial operations
The 72.5 megawatt (MW) Stelpe solar farm II, developed in Latvia by Ignitis Renewables, an international green energy company, has reached the commercial operation date. The project is located in the southern part of Latvia, Bauska municipality. The solar farm, which covers 85 hectares, is equipped with 121 thousand solar panels. The investments in the project, including the acquisition and construction costs, should amount to approximately EUR 54 million.
Stelpe solar farm II is a part of the Stelpe solar project, which consists of two sites, each with a capacity of 72.5 MW. The project has a combined installed capacity of 145 MW and will cover the electricity demand of around 70 thousand households.
Ignitis Renewables is actively continuing the development of renewable energy projects in Latvia. This year, the commercial operation date was also reached by the 94 MW Varme solar farm, and the development of the 174 MW Tume solar farm is on track. These solar farms, with a combined installed capacity exceeding 400 MW, will be able to cover the electricity demand of nearly 200 thousand households.
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Originally published on 22 Sep
Read MoreFingrid secures transmission capacity for growth in electricity consumption and new industrial investments – restrictions on new energy storage facility connections continued in southern Finland
There will be a shortage of grid connection capacity in southern Finland in the coming years. Fingrid’s objective is to ensure that there is sufficient connection capacity to meet the growth in electricity consumption in households, the service sector and industry, as well as new industrial investments that generate economic growth. As a result, Fingrid will continue to restrict the connection of new grid energy storage facilities in southern Finland until 2029. Location is of little importance for the commercial operation of energy storage facilities, and there are plenty of connection opportunities for grid energy storage elsewhere in Finland.
Last winter, Fingrid announced that no new electricity consumption and grid energy storage could be connected to the consumption-dominated southern Finland before the beginning of 2027. The restriction will now be continued for grid energy storage until 2029, when the new Hikiä-Toivila grid connection that will increase connection capacity in southern Finland is completed. This will ensure that there is sufficient connection capacity to meet the growth in electricity consumption in households, the service sector and industry, as well as new industrial investments that generate economic growth.
Fingrid is exploring new ways to connect grid energy storages to southern Finland earlier than currently announced, such as flexible connections.
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Originally published on 26 Sep
Read MoreKlaipėda Port Prepares for Lithuania’s Offshore Wind Ambitions
Work is underway at the Port of Klaipėda on a major project that supports Lithuania’s plans to develop offshore wind farms. In the area of the former International Ferry Terminal, quays are now being constructed.
“Klaipėda Port is moving with Lithuania’s ambitions to build offshore wind parks in the Baltic Sea. We’re preparing to become a key base for this project – setting up areas where turbine components can be assembled, handled and stored. Right now, in the southern part of the port at the former International Ferry Terminal, the constructor Tilsta is carrying out the first stage of infrastructure works – reconstructing quays,” says Algis Latakas, CEO of the Klaipėda State Seaport Authority.
Back in May 2022, the Klaipėda Port Authority and cargo handling company Klasco signed an investment agreement, launching the development of port infrastructure needed for Lithuania’s future offshore wind projects.
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Originally published on 22 Sep
Read MoreElcogen launches new high-volume solid oxide fuel cell factory in Europe to meet global demand for clean energy solutions
We are very pleased to announce that we have now officially opened ELCO I, a new state-of-the-art manufacturing facility on the outskirts of Tallinn, Estonia. The launch marks a pivotal step in scaling up the company’s role in the global energy transition.
The 14,000 m² facility significantly increases Elcogen’s available production capacity from 10 MW to 360 MW, positioning the company as one of Europe’s largest manufacturers of high-efficiency Solid Oxide Fuel Cell (SOFC) and Electrolysis (SOEC) technology. Elcogen’s components – cells, stacks and modules – are integrated into third-party systems for a wide range of applications including distributed energy, off-grid and stationary power, industrial backup, green hydrogen production, and Power-to-X solutions.
“This new facility is built for scale, speed, and global impact,” said Enn Õunpuu, CEO of Elcogen. “As demand for reliable Solid Oxide-based clean energy solutions accelerates worldwide, Elcogen is now uniquely positioned to deliver the high-performance technology the market needs, at commercial volumes.”
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Originally published on 17 Sep
Read MoreH2Value project plays a significant role in European hydrogen forum discussions
At the beginning of September, Riga hosted the European Hydrogen Valleys Investment Forum (EHVIF TechTour 2025), reaffirming hydrogen as one of the central themes for Europe’s future energy landscape. The event gathered more than 220 participants – including start-ups, investors, corporate representatives, experts, and policymakers.
In total, 40 start-ups and hydrogen valley projects presented their innovative ideas, while more than 40 investors and industry leaders shared their perspectives on developing and financing clean energy solutions. The event concluded with eight companies being recognized by the expert jury as Top Presenters.
Special attention in the programme was devoted to discussions on hydrogen production, storage, distribution, and use in mobility and industry, as well as on governance and cooperation models. One of the key highlights was the pitching session, where the H2Value project was presented – the first cross-border initiative to build a green hydrogen value chain between Latvia and Estonia. The project’s goal is to gradually establish the entire chain, from production and storage to distribution and real-life application in transport.
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Originally published on 12 Sep
Read MoreThe Government approved the proposals from the Ministry of Energy for a longer deadline for the second offshore wind farm tender – until 7 October
The Government approved the proposal of the Ministry of Energy to temporarily suspend the current tender for the development and operation of the offshore wind farm. According to the decision, the tendering procedures will be resumed on 6 October 2025, and the submission of tenders will continue until 7 October 2025, inclusive.
The temporary suspension of the tender is necessary to ensure successful results. The decision was made taking into account the fact that the tender took place during the summer period, when market participants are objectively less active. Political processes taking place during the summer also influenced investors’ decisions to participate in the tender and invest in Lithuania. The Ministry of Energy received indications from potential participants that the current deadline for submitting documents was too short to properly prepare for participation in the tender, including detailed financial, technical, and legal assessments.
These changes will create more favourable conditions for greater involvement of market participants. The aim is to ensure that offshore wind farm projects are implemented at competitive prices by creating attractive tender conditions for investors and ensuring maximum competition. The decision creates preconditions for the implementation of the goal to develop two offshore wind farms with a total capacity of 1.4 GW, specified in the National Energy Independence Strategy.
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Originally published on 5 Sep
Read MoreHydrogen information package from Gasgrid
Gasgrid Finland has published its first hydrogen information package. It aims to meet the market’s information needs on the development of the Finnish hydrogen network and the principles of access and operation. The information package contains, among other things, Gasgrid’s current view on the development of the market, the principles of grid access and the market model for hydrogen pipeline transmission. It also facilitates the collection of feedback from market participants on market needs for network operation and market rules and supports market dialogue from the early stages of market formation.
As we are creating a whole new infrastructure, ecosystem and industry, and a lot is happening in the industry at the same time, Gasgrid considers an active market dialogue and participatory process to be very valuable. Through the Hydrogen Information Packages, Gasgrid can share information with market participants on the development of the Finnish hydrogen network and the wider European market,” says Sara Kärki, Director of Hydrogen Development at Gasgrid.
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Originally published on 5 Sep
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