Encavis enters deal to acquire 69.3 MW wind farm in Lithuania
Encavis AG has entered into an agreement to acquire an onshore wind farm in Lithuania that is already connected to the grid and has a nominal output of 69.3 MW. The project was developed by E energija Group and GE Energy Financial Services as co-sponsors of the wind farm.
The wind farm, located in the Telšiai region of North-Western Lithuania, consists of 13 GE Renewable Energy's 5.3-MW new-generation Cypress wind turbines. The generated electricity will be sold under a long-term power purchase agreement (PPA) based on a pay-as-produced structure until December 31, 2031, to the state-owned utility Eesti Energia AS from Estonia, which has an investment grade rating.
The wind farm benefits from a long-term service agreement with General Electric Lithuania. E energija will act as technical and commercial asset manager.
The closing of the deal is expected by the end of 2022.
Country updates
-
-
October 03, 2022
Vestas awarded EPC contract for 74 MW Lithuanian wind project
Vestas has been awarded an engineering, procurement, and construction (EPC) contract for the development of the 74 MW wind farm located in Lithuania. Vestas will deliver all civil and electrical work...
Read more -
August 26, 2022
Luminor Bank funds 35 MW Lithuanian solar projects
Green Genius and Luminor Bank have reached an agreement on a EUR20 million (US$20.1 million) loan for the development of 35 MW remote solar projects in Lithuania. Green Genius will implement si...
Read more -
July 18, 2022
Ignitis Group awarded grid connection for 252 MW solar project in Jonava
Ignitis Group, through its subsidiary Ignitis Renewables Projektai, has been awarded a grid connection capacity by domestic transmission system operator Litgrid AB for its 252 MW solar photovolta...
Read more -
June 09, 2022
Ignitis secures approval for 22 MW solar project with a 10 MW wind farm in Taurage
Ignitis Renewables has received approval from the State Energy Regulatory Council to build a solar park in the Taurage district, Lithuania. The developer plans to combine a new 22 MW solar project wi...
Read more -
May 31, 2022
BaltCap begins construction of 30 MW wind project in Zvirgzdaiciai
BaltCap Infrastructure Fund has begun work on a 30 MW wind project in the town of Zvirgzdaiciai in Lithuania’s Sakiai district. The EUR42 million (US$45 million) wind project comprises six...
Read more
