Wind energy firm Nelja Energia's wind farm in Estonia - the first in the country to be funded by sales revenues from meeting carbon dioxide emission quotas - is online, The Baltic Course reported. The company, based in Estonia, said the majority of the wind farm project cost was covered by funds raised from selling its pollution quota to Spain. The wind farm cost a total of $13.67 million, according to Nelja Energia Chairman of the Board Martin Kruus.
"Ojaküla wind farm is 52 percent funded from pollution quota export revenue, which proves that it is possible to build wind farms without the renewable energy support," explained Kruus.
Ojaküla wind farm has a capacity of 6.9 megawatts and can generate enough electricity to provide four times the power local residents need.
Earlier this month, Estonia joined the International Energy Agency (IEA) as its 29th member.
"The country has made remarkable progress in transforming its energy sector, and there is every reason to expect that this successful process will continue and be reinforced through IEA membership," IEA Executive Director Maria van der Hoeven said in a statement.