aA
Lithuania's state-run energy holding Lietuvos Energija (Lithuanian Energy) is buying Poland's Pomerania Invall from IGE, a Spanish wind farm project company owned by the environmental impact fund SI Capital.
State energy group buying wind farms project in Poland
© DELFI / Orestas Gurevičius

Lietuvos Energija Renewables and IGE signed an agreement on the purchase and sale 100 percent of shares in Pomerania Invall on May 27, the group said on Tuesday.

Arturas Ketlerius, head of public relations at Lietuvos Energija, told BNS that the value of the deal is not being disclosed.

The group plans to invest a total of 127 million euros in the Pomerania wind farm project, including 44 million euros that Lietuvos Energija its lending to its subsidiary under a loan agreement signed on May 28.

Ketlerius did not reveal the funding sources for the rest of the investment.

Pomerania Invall is developing a wind farm project in Poland with a planned capacity of 94 megawatts (MW). The construction work is planned to begin in the second quarter of 2019, with the launch of commercial operations slated for 2021.

Pomerania won a 15-year guaranteed tariff of 214.98 zlotys per megawatt-hour (around EUR 50 per MWh) at Poland's auction for renewable energy projects in November 2018.

Last November, Lietuvos Energija unveiled plans to acquire a 50-MW wind farm project from Poland's wind and solar power plant developer Wento.

The companies then signed a conditional agreement that called for the transaction to be finalized in 2019, subject to certain conditions being fulfilled.

Ketlerius said the deal "is in the process" but gave no further deals.

Lietuvos Energija aims to own 400 MW of renewable energy generation capacity in Poland and the Baltic countries by 2020. Darius Maikstenas, its CEO, has said the group sees Poland as its priority market.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Some 200 new points of sale of illegal tobacco emerged

204 new points of sale of illegal tobacco emerged in Lithuania, with their number going up by a...

Tourism: Lithuania had biggest growth of nights spent in EU

In 2019, the number of nights spent in tourist accommodation in the European Union (EU) is expected...

No contamination found in Curonian Lagoon fish

Tests have found no contamination in fish from the Curonian Lagoon despite the release of untreated...

Debates started to get a grip on environmental polluters

The of Lithuanian Seimas during its extraordinary session on Thursday started deliberating a package...

Lithuanian scientists create new breakthrough technology

Panevėžys Mechatronics Center (PMC) announced about the creation of a new breakthrough technology...

Top news

Skvernelis urges to refrain from attempts to reinterpret WWII consequences

Lithuanian Prime Minister Saulius Skvernelis has urged to refrain from attempts to reinterpret the...

Number of barred people up as immigration grows

The number of people barred to enter Lithuania rose last year, and the country's State Border Guard...

Some 200 new points of sale of illegal tobacco emerged

204 new points of sale of illegal tobacco emerged in Lithuania, with their number going up by a...

Savickas nominated for economy minister

Lithuanian Prime Minister Saulius Skvernelis on Friday submitted the candidature of his adviser Lukas...

No contamination found in Curonian Lagoon fish

Tests have found no contamination in fish from the Curonian Lagoon despite the release of untreated...