We advised Ignitis renewables – a subsidiary of the Ignitis Group – on signing an agreement to acquire 100% of shares of the company developing an onshore wind farm in the Northwest Lithuania, Plungė region. The potential capacity of the acquired wind farm is up to 218 MW.
Preliminary investments amount to around EUR 300 million
The project is currently at the early development stage with environmental impact assessment procedures undergoing. The project’s estimated COD is expected around 2026-2030. Total preliminary investments, including the acquisition price and the construction cost, amount to around EUR 300 million. The completed wind farm will operate under market conditions.
Objective to increase Green Generation capacity to 4 GW by 2030
The acquisition is a significant step forward towards the Ignitis Group‘s objective to reach 4 GW of installed Green Generation capacity by 2030 as set out in the strategy. With this acquisition, total Ignitis Group’s portfolio of green generation projects in operations, construction, and development amounts to around 4.8 GW.
Our services and project team
Our team, consisted of partners Sergej Butov and Asta Augutytė-Rapkevičienė, senior associate Laura Matuizaitė-Mikštė and associate Gabrielė Raižytė. We advised the client on all transaction-related matters, including due diligence of the company, preparation of transaction documents, negotiations, signing and closing of the transaction.