GE Renewable Energy has announced it will supply 13 of its 5.3MW Cypress wind turbines and provide a 25-year Full Services Agreement (FSA) to the E energija Telšiai onshore wind farm in Lithuania.
Located approximately 250km north-west of capital Vilnius, the 68.9MW onshore wind farm will generate enough renewable energy to power the equivalent of around 78,300 homes in Lithuania. The wind farm is the first significant subsidy-free development in the Baltic states and will play a notable role in supporting the country’s target to increase its share of renewable energy sources to 45% by 2030.
The project’s co-sponsors GE Capital’s Energy Financial Services (GE EFS) and E energija reached financial close with SEB Bank, part of Skandinaviska Enskilda Banken AB, on a project financing package for the 68.9 MW Telšiai onshore wind farm.
The package is underpinned by a 10-year Power Purchase Agreement (PPA) with Estonian state-owned utility company Eesti Energia AS. This represents the largest bilateral PPA in the regional renewables sector to date, and a key milestone as the country sets its sights on a subsidy-free future for renewables.
Initial civil and electrical work commenced in July 2020, and the first turbine delivery of GE’s Cypress platform is expected in April 2021.
The project is expected to reach commercial operations by the end of 2021.
Gediminas Uloza, CEO of E energija, said: “For the Baltics, it is also an important milestone as E energija Telsiai wind farm is the first significant subsidy-free wind farm project in the region which has only become possible with some of the most innovative technology and co-investment from global energy market leader, General Electric.”
Peter Wells, CEO of GE Onshore Wind Europe, said: “The E energija Telšiai onshore wind farm in Lithuania demonstrates the appetite in the Baltic nations to use the most innovative wind technology to support its shift to sustainable and efficient renewable energy and support the country’s overall energy mix.”
Jon Stark, GE EFS’ US/ EU renewables commercial leader, said: “The joint venture with E energija represents the first investment by GE Energy Financial Services in the Baltic region, which is expecting further growth. Our partnership with an established regional energy market leader has created an opportunity to be part of the renewable energy story in the region. Through GE’s state-of-the-art onshore technology and innovative finance solution, we are supporting the development of one of the most efficient wind farms in Lithuania.”
The turbines make use of the Cypress two-piece blade design, which enables blades to be manufactured at even longer lengths. This will improve logistics to drive costs down and offer more siting options in locations that were previously inaccessible.
