Pakri wind farm commissioned in Estonia - Half a million tonnes of greenhouse gas emission reductions to Finland
Pakri Wind Farm will be officially opened on June 13, 2005 in Paldiski, Estonia. The Wind Farm will reduce greenhouse gas emissions annually 50 000 tonnes by replacing oil shale based electricity production. The 18,4 megawatt Wind Farm consists of 8 turbines.
Finland will purchase half a million tonnes of emission reductions from the project in 2004-2012 for a price of EUR 5.8 per tonne of carbon dioxide. The total value of the transaction is approximately EUR 2.5 million. Finland can utilise the emission reductions for meeting its Kyoto emission reduction target.
Pakri Wind Farm is a Joint Implementation (JI) project under the Kyoto Protocol. JI aims to reduce greenhouse gas emissions. JI will increase cost-effectiveness of the Kyoto Protocol by allowing emission reductions to take place wherever it is cost-effective. From a climate change mitigation point-of-view all emission reductions are equally important. JI shall also support sustainable development. Pakri project will also serves as an example for similar projects.
According to the Kyoto Protocol and the EU burden sharing agreement, Finland shall return its greenhouse gas emissions to the 1990 level by the years 2008-2012. The Government is currently updating the National Climate Change and Energy Strategy. The strategy will be finished by late Summer 2005. The role of the Kyoto Flexible Mechanisms such as Joint Implementation and International Emissions Trading will be defined in the strategy among other issues.
The Pakri Wind Farm project has been developed within the framework of the Finnish CDM/JI Pilot Programme, which was executed by Finnish Environment Institute. Funding is provided from the budget for Cooperation with Neighbouring Areas coordinated by the Ministry for Foreign Affairs. The Programme has also implemented three other JI projects and one so-called Clean Development Mechanism (CDM) project in Honduras. Administration for the Kyoto Flexible Mechanisms is currently under development.
The Pakri Wind Farm is owned by OÜ Pakri Tuulepark, which in turn is owned by Norwegian Vardar AS and Nordic Environment Finance Corporation (NEFCO). Finnish JI project participants are the Ministry of the Environment and the Ministry for Foreign Affairs. AS Tuulepargid in Estonia has developed the project in co-operation with Danish Global Green Energy ApS. The Technology provider is German-Danish Nordex Energy GmbH. Finnish companies EMP Projects Oy and Electrowatt-Ekono Oy have provided expert services for the project.
For further information, please contact:
Director Kristiina Isokallio, The Ministry of Environment, puh. 050 581 9618
Director General Markku Nurmi, The Ministry of Environment, puh. 050 559 9146
Programme Manager, Kari Hämekoski, Finnish CDM/JI Pilot Programme, Finnish Environment Institute (SYKE) Tel. +358-9-403 00421 or +358-40-565 2125