We advised Taaleri SolarWind II fund, managed by Taaleri energia, and investment company Atsinaujinančios energetikos investicijos, managed by Lords LB Asset Management, on acquiring three wind farms from European Energy, a Danish renewable energy company. This is the largest acquisition in the wind energy sector in the Baltics this year.
The wind farms, developed in Anykščiai, Jonava and Rokiškis, will have a combined installed capacity of 186 MW. The first wind turbines will start operating already this year, and the construction of all parks is expected to be completed in 2022.
Further investments in the Baltics planned
This is the first time the Talleri SolarWind II fund has invested in Lithuania.
“Our joint venture with Lords LB paves the way for further investments in the Baltics and we look forward to continuing to build on this partnership”, says managing director of Taaleri Energia, Kai Rintala.
“We believe that our joint venture with Taaleri Energia will be a significant driver for renewable energy capacity development in the region. Unlocking the renewable energy potential in the Baltics will lead to tremendous value creation for both the region and for our investors”, comments the manager [WM1] of Atsinaujinančios Energetikos investicijos, Tomas Milašauskas.
Electricity supply to 270,000 households
34 General Electric 5.5 MW turbines will be installed in the parks. The three parks will produce 560 GWh of electricity which is enough to supply approx 270,000 households. It will offset the equivalent of 170,000 tonnes of carbon dioxide each year of operation.
Axpo, one of the leading energy companies internationally, has entered into ten-year power purchase agreements with the projects.
Our team and services
Our team, led by partners Sergej Butov and Asta Augutytė-Rapkevičienė, who co-head the firm’s Energy sector group, advised the clients on all legal matters related to the transaction. The team also included:
- senior associates Julija Kirkilienė and Justina Paškevičienė, associates Gabrielė Raižytė, Sandra Aleksandravičienė and Simonas Šlitas, as well as assistant lawyer Barbora Bernatonytė (conducted legal due diligence);
- senior associate Svetlana Rudaja (advised on energy law and regulatory matters);
- counsels Jonas Kiauleikis and Monika Mališauskaitė-Vaupšienė, senior associate Matas Mačiulaitis, associate Jurgita Tekorienė and assistant lawyers Lukrecija Urnevičiūtė (advised on corporate law and other transaction-related matters);
- partner Augustas Klezys, counsel Lina Ragainytė-Mezenė, senior associate Agnė Sovaitė and associate Goda Drąsutė (advised on matters related to the transaction financing);
- senior associate Ieva Tumalavičiūtė (advised on tax matters).