Enefit Green produced 226.2 GWh of electricity in November, or 109% more than in November 2023. The production result was mainly driven by new wind and solar farms in Estonia, Lithuania, Finland, and Poland (both by those commissioned last year and by those still under construction) the production of which accounted for over half of Enefit Green's total electricity production. The monthly production result corresponded to the revised Q4 production forecast published in the September production notice, despite capacity downregulations (mainly during hours with low electricity prices). Good wind conditions and the launch of the Sopi-Tootsi wind contributed positively to the production.
The volume of wind energy production in November was 213 GWh, which is 132% more than a year ago.
The average wind speed in November was 7.4 m/s across the portfolio, +0.4 m/s higher than expected. Finnish wind conditions were particularly good: +1.1 m/s better than expected average wind speed was measured in Tolpanvaara wind farm (8.6 m/s). Estonian (7.3 m/s) and Lithuanian (7.4 m/s) wind conditions were also better than expected. Good wind conditions affected the output of wind farms by +30.3 GWh compared to the expectations.
Downregulation of production capacity (mainly during hours of negative and/or very low market prices and due to various network constraints) had a significant impact on production results, reducing output by 29.0 GWh. The production result was also somewhat affected by the higher than usual volume of faults, mainly in WinWind wind farms, downtime due to icing of blades in the new Šilale II wind farm in Lithuania, and works in Tolpanvaara wind farm to improve the anti-icing system of the blades. Availability effects on the production were -6.2 GWh.
The year-over-year comparison of energy production in the cogeneration segment as a whole continues to be influenced (until the beginning of next year) by sale of biomass-based cogeneration assets in the fourth quarter of last year and in the first quarter of this year. In November, the electricity production of the Iru power plant (which remains the sole production unit in the segment), was 11.6 GWh (-3.2%) and the production of thermal energy was 36.6 GWh (-3.8%).
Solar energy production in November reached 1.5 GWh growing by almost a half year-over-year, but characteristically for the season, only accounted less than 1% of Enefit Green's electricity production in November.
"November was once again a month with record production, surpassing the record achieved in October by more than 26 GWh. In two months, we are staying well on track for our fourth-quarter production forecast. At the same time, November stood out with an exceptionally large amount of down regulations due to low electricity prices, for which very good wind conditions were certainly one of the factors. The Sopi-Tootsi wind farm has now become fully operational and contributes significantly to the results. Good wind conditions also caused good demand for system services in November, which had the effect of reducing the production result by almost 4.8 GWh in Estonia and Lithuania, but at the same time it provided additional income for the company.
Compared to the previous month, average monthly electricity prices were somewhat lower in Estonia and Lithuania, and slightly higher in Finland. Wind energy discounts on our markets continue to be high, with a slight easing in Finland in November compared to previous months," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.
