COBALT is advising European Energy on the acquisition and development of wind farms in Lithuania

COBALT is advising the Danish renewable energy company European Energy on the acquisition and development of solar power and wind farms in Lithuania. European Energy will install wind farms with a total electricity generation capacity of 49.5 megawatts (MW) in Dejūnai village, Anykščiai district. The company aims to become one of the largest producers of green energy in Lithuania.

The park is planned to begin commercial operations in the first quarter of 2022 and generate approximately 150 gigawatt-hours of electricity annually.

In total, European Energy intends to invest about EUR 1.5 billion in Lithuania by 2024 and to build wind and solar power farms with a total capacity of more than 1 thousand megawatts.

“Lithuania has ambitions to increase local energy generation to 50% by 2025. The new generation of energy production must be green; therefore, projects like this not only allow us to move one step closer to our goal but also play an important role in strengthening the country’s energy security,” – said Minister of Energy of the Republic of Lithuania D. Kreivys.

European Energy is a global renewable energy company with operations in 17 countries, including Denmark, Germany, Sweden, Finland, Italy, Brazil and Mexico. The company has more than 250 employees and revenue in 2020 amounted to EUR 206.9 million.

Our assistance includes the acquisition due diligence and negotiations on all the necessary transaction documentation relevant to the completion of the projects. COBALT team consists of Partner Paulius Markovas, Associate Partner Vydmantas Grigoravičius, Senior Associate Julija Aleška, and Associate Ignas Jurkynas.