COBALT advised Estonia´s largest wind farm companies Freenergy, Vardar Eurus and Nelja Energia in the merger under the single name of Nelja Energia

Estonia’s biggest wind farm companies Freenergy, Vardar Eurus and Nelja Energia have merged under the single name of Nelja Energia, creating an energy company with a traditional management and ownership structure which will fully own and operate wind farms in Estonia, Latvia and Lithuania. The new structure will provide additional impulse for the completion of its power plants currently under construction, and for expanding into other areas of renewable energy, primarily the production of energy from biomass.

Freenergy, Vardar Eurus and Nelja Energia are merging through an exchange of holdings: Vardar Eurus is acquiring a shareholding in Freenergy, which is then merging with Nelja Energia, with the resulting company going under the single name of Nelja Energia. The total volume of assets of the merged company is 335 million euros.

For more information about the merger click here.

The project legal team was led by partner Peeter Kutman and included partner Aivar Taro, associate Kätlin Kiudsoo and associate Ott Aava.