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.