Encavis closes deal to purchase 69 MW wind project in Telšiai

Encavis AG has closed the transaction to acquire 100% shares of the 69 MW operating onshore wind farm in the Telšiai region Lithuania from  E energija group & GE Energy Financial Services. 

The wind farm consists of 13 GE Renewable Energy's 5.3 (MW) new generation Cypress wind turbines. It is the first wind farm of this size built and connected to the grid in Lithuania since 2016. E energija group will partner with Encavis as the commercial and technical asset manager, ensuring the efficient operation of the wind farm together with General Electric Lithuania, with the latter providing a full-scope service for a 30-year period.

The project was developed by the E energija group and GE Energy Financial Services as co-sponsors of the wind farm’s project company. It was the first wind farm built without state aid and feed-in tariff (FiT) in Lithuania. For this project, the German BayernLBstructured and financed a green loan covered by the German export credit agency Euler Hermes.