•  
  •  
  •  

Lietuvos Energija finalises acquisition of 34-MW wind portfolio in Lithuania

Wind parks in Lithuania. Image by: Lietuvos Energija (www.www.le.lt).

November 7 (Renewables Now) - Lithuania’s state-owned Lietuvos Energija has completed the acquisition of a 34-MW wind portfolio in Lithuania from domestic wind farm operator Stemma Group.

The power distribution group announced today it has completed the two sale-purchase agreements to buy Stemma Group’s shareholding in UAB Vejo Vatas and UAB Vejo Gusis for the total sum of EUR 21.76 million (USD 25m). The goal of the transaction was to expand and diversify the company’s activities, Lietuvos Energija pointed out.

Vejo Vatas operates a wind farm with total capacity of 14.9 MW, while Vejo Gusis’ wind parks total 10 MW and 9.1 MW, respectively.

Lietuvos Energija noted that the Commission for the Protection of Objects of Importance to Ensuring National Security of the Republic of Lithuania has decided not to start assessing the transaction for compliance with the interests of national security.

Upon completion of the transaction, Lietuvos Energija estimates that it is now the second largest wind power producer in the Baltic States, accountable for 9% of the total market’s generation.

(EUR 1.0 = USD 1.148)

More stories to explore
Share this story
Tags
 
About the author

Svilena is the latest addition to the Renewables Now team. Based in Italy, she will be focusing on the local market and on the rise of energy storage, e-mobility and mini grids globally.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription