Grünfin Blog

Vestas wind turbines come to life in Estonia and your portfolio

Construction of Estonia’s most powerful wind park began this August in Pärnu county.

It will fulfill the annual electricity needs of 40.000 homes and be operational by summer of 2023.

The wind turbines are manufactured by Danish company Vestas, the world’s largest producer of these devices.

Vestas is a company in your climate portfolio. We are excited to share this news and shine light on your portfolio with a project so close to home.

“No new wind turbines have been installed in Estonia for eight years now. The technology of wind turbines has developed rapidly during this time and the Vestas V150 wind turbines we acquired are the most modern and efficient. Compared to ten years ago, much fewer wind turbines can now produce substantially more energy,” explained Priit Koit, CEO of Utilitas Group which is constructing the park.

Wind is only 6% of primary energy consumption in the EU. Germany is above average at 9%, but Estonia lags at just 3%.

And what is the largest source of energy in the EU, you may ask? The dirty stuff, unfortunately. Fossil fuels - oil, gas, coal - total for a combined 70%!

Unfortunately, we still rely way too much on fossil fuels to heat our homes, electrify our cities, operate our factories, run our transportation, cook our food, etc.

Relying excessively on fossil fuels has two major downsides for Europe:

  1. Fossil fuels are the main source of greenhouse gas (GHG) emissions, which in turn are the main cause of global warming. Excessive global warming causes fires, floods, droughts and marine life destruction, making parts of Earth inhabitable and some land inarable. All this increases human displacement, malnutrition and disrupted water sources.
  2. About 26% of Europe’s oil and gas needs were supplied by Russia. We’ve learned the hard way that depending on Russian oil & gas is a risk to our national security.

Hopefully we get more of these wind projects going!

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