We advised international renewable energy group Aura Power on sale of its majority stake in UAB Aura Power Dubhe (together with other minority shareholders’ stakes, comprising 100% ownership) to Finish energy group Olana Energy. The target is developing 70 MW / 140 MWh capacity late-stage battery energy storage system (BESS) project in Šalčininkai, Lithuania, which shall significantly contribute to energy independence and grid stability in Lithuanian. It is planned to become operational by the end of 2026.
Aura Power is a leading global developer of renewable energy projects founded in Bristol, UK, in 2013 and its regional teams now also operating in Europe and North America. Aura Power is specialising in delivering utility-scale solar farms and battery energy storage systems and has an active pipeline of over 10 GW of capacity in development, including 0.8 GW in Lithuania.
This transaction marks Aura Power’s second successful divestment process in Lithuania this year, following the successful sale of Kaišiadorys BESS project with 50 MW / 100 MWh capacity, and is a testament to the robust growth of the BESS market in Lithuania and the broader European context. It proves the critical role of BESS in supporting the Baltics’ energy transition and enhancing grid resilience, especially following the region’s synchronisation with Continental Europe.
Our team and services
We advised Aura Power on all transaction-related matters, including pre-transaction structuring, drafting and negotiating the transaction documents, post-closing and regulatory matters related support. Our team, led by partner Sergej Butov and senior associate Michailas Molis, also consisted of counsel Andrius Šimkus, associate Goda Jakubauskaitė and others.
