Under the agreement, EIB will provide a EUR50m loan for a waste-to-energy plant in Iru, in the proximity of the Estonian capital, while a EUR45m loan for two onshore wind parks, one of several such projects supported by the EIB in the Baltic Sea Region.
The new waste-to-energy facility is located at an existing heat and power production site, which will reduce investment costs.
It is set to partly replace existing gas fired units in the Iru power plant constructed in 1980 to reduce dependency on imported gas and adapt to higher environmental standards in the future.
The wind parks will be built in Narva and Paldiski, comprising 39MW and 22MW respectively, helping Estonia meet its EU 2020 targets for renewable energy production.
These EIB loans are among many supporting the EU Strategy for the Baltic Sea Region and its four priorities: sustainable environment; regional prosperity; increased accessibility and attractiveness; safety and security.
