E energija sells the largest wind park to Ignitis renewables

COBALT advised E energija on signing the contract for the sale of the largest wind farm to Ignitis renewables, which belongs to Ignitis grupė, one of the largest energy companies in the Baltic States.

The wind power park already under construction in the Kelme district will have a capacity of up to 300 megawatts (MW), and the planned start of electricity production is in 2025.

Ignitis renewables will take care of the financing, construction and operation of the wind farm. Ignitis Renewables is an international green energy company operating in the three Baltic states and Poland. Its objective is to develop onshore and offshore wind, solar energy, biomass and waste-to-energy projects.

“We started the project of the wind park in Kelmė more than 5 years ago and we are proud that one of the largest wind power projects currently being built in Lithuania will make a significant contribution to Lithuania’s quest for energy independence,” says Gediminas Uloza, Head of the E energija group.

E energija group develops and builds wind, solar and hybrid parks in Lithuania and neighbouring countries. In recent years, the 69 MW and 9 MW wind power parks developed and built by E energija in Telšiai and Kelmė districts are already producing green electricity, and by 2030, E energija plans to develop up to 2000 MW of renewable energy projects in the region.

COBALT Partner Elijus Burgis and Senior Associate Julija Aleška advised E energija throughout the transaction. They prepared the transaction documents and advised on other matters related to the transaction.