Enefit to sell electricity produced by the largest solar power plant in the Baltics

Enefit and Nordic Solar, a Danish developer of solar power plants, signed an agreement to sell the production of the 100 MW Moletai solar power plant to the market. The solar farm located in Lithuania started its full-scale electricity production in the end of April and is the largest in the Baltics.

Armen Kasparov, Director of Energy Trading and Portfolio Management at Eesti Energia, said that Enefit is the gateway to the energy market for renewable energy producers. Today, the company's customers include several solar and wind power producers across the Baltics who sell their production to the market.


"In order to be able to sell the electricity they produce on the market, producers must sign a contract that guarantees the sale of the electricity they do not have and the purchase of the surplus, the so-called open supply. Enefit combines the open supply and power sales contract into one, thus offering larger producers the possibility to sell electricity on the market through Enefit," he explained.

In addition to market access, the agreement includes several other benefits for producers, including a solar farm production forecasting service, balance responsibility and the possibility to limit production during low or negative price hours through a virtual power plant (VPP).

"As larger solar farms have production volumes in the tens of gigawatt-hours (GWh) per month and high turnover rates, an open supplier can create significant credit risk for the asset owner under normal payment conditions. By contrast, Eesti Energia's credit rating allows us to offer secure balance sheet management regardless of the company's production volumes," said Kasparov.

“We are very pleased with the agreement we have entered with Enefit and with the good collaboration,” said Nordic Solar’s Chief Investment Officer Holger Bang. “Nordic Solar’s new solar park located in Moletai is Lithuania’s largest solar park to date with a production capacity of 100 MWp. Selling the production to the market based on the balancing agreement is important part of accelerating the rollout of renewable energy in Lithuania,” Bang added.

The Moletai solar park is paving the way for an even wider deployment of clean energy and increase the share of renewable energy in the market. Enefit is inviting other green energy producers who are interested in selling their renewable energy production to the market and the above-mentioned additional benefits of contracting with us, to join the service.

Enefit is a subsidiary of Eesti Energia, which from 1 January 2024 offers Eesti Energia's existing energy products and services: electricity and gas, solar and storage solutions, Enefit Volt home and public electric car charging solutions, insurance, high-speed internet readiness, electricity works and heating solutions. All existing Eesti Energia customers are Enefit customers from 2024.

Nordic Solar is a Danish solar energy company that develops, builds, and operates large-scale solar parks in Europe. Since its establishment in 2010, the need and the market for renewable energy have increased sharply, and Nordic Solar intends to play a key role in the energy transition. The company is owned by approx. 725 shareholders and employs more than 120 employees. Today, Nordic Solar operates solar parks with a total capacity of more than 400 MWp across Europe and has projects under development and under construction of more than 2 GWp.