COBALT advises BaltCap Infrastructure Fund on sale of biomass CHP in Riga

BaltCap Infrastructure Fund (BInF) has signed an agreement to sell Energia Verde, a company that operates a biomass combined heat and power plant (CHP) in the Riga region, to Gren, the Northern European green energy company (held by Partners Group). The transaction is subject to customary closing conditions.

COBALT M&A team including Partner Guntars Zīle and Senior Associate Mārtiņš Tarlaps advised BInF throughout the entire sales transaction.

BInF acquired the majority of Energia Verde in 2018, roughly one year after the power plant started its operations. The woodchip-fired CHP plant is equipped with 18 MW HoSt Bio-Energy Installations high-pressure water tube steam boiler and a 3.98 MW steam turbine. The plant produces electricity and provides heat to the Riga district heating system.