This new wind park will boost Estonia's electricity generation capacity by up to 10% as the country works towards meeting ambitious European Union (EU) environmental goals. Alongside this, the European Investment Bank is contributing €180 million, with additional financing from a commercial bank.

Enefit Green, a leading renewable energy provider in the Baltic states, has been an EBRD client since 2020. The company currently manages 587 MW of green capacity and 50 MW of heat capacity across the Baltic states, Finland, and Poland. After its partial privatisation through an IPO in October 2021, Enefit Green's shares are listed on the Nasdaq Tallinn Stock Exchange and are held by approximately 64,000 investors. Despite this, Eesti Energia, the Estonian state-owned energy utility, remains the majority owner, with the EBRD holding a minority stake.

The Sopi-Tootsi project is central to Estonia's plan to expand its renewable energy sector in response to the global energy crisis exacerbated by Russia's war on Ukraine. The project is crucial for reducing dependence on fossil fuels and achieving energy independence.

Estonia is one of the EU's most carbon-intensive economies, with oil shale comprising about 57% of its energy mix. The National Energy and Climate Plan aims to have renewable energy account for 65% of national gross energy consumption and 100% of electricity consumption by 2030. Estonia targets climate neutrality by 2050, with Enefit Green playing a significant role in reaching its goal of 2 GW of renewable energy by 2026 and 6 GW by 2030.