28
Thu, Mar
51 New Articles

Cobalt Advises European Energy on Wind Farm Portfolio Divestment

Cobalt Advises European Energy on Wind Farm Portfolio Divestment

Lithuania
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has advised European Energy on the divestment of three Lithuanian wind farms with a total capacity of 185.5 megawatts.

Located in the municipalities of Anyksciai, Jonava, and Rokiskis, the wind farms are under construction and consist of a total of thirty-four GE 158-5.5 megawatt HH 151-meter turbines. The transaction is expected to close in November 2021.

European Energy is a global renewable energy company present in 17 countries, including Denmark, Germany, Sweden, Finland, Italy, Brazil, and Mexico. The company has been operating in Lithuania since 2019 and is currently developing 26 wind and solar projects across eight European countries.

"Even though we have only recently entered the Lithuanian market, this divestment of such a large wind portfolio to a European renewables fund manager shows that we are in the forefront of developing and constructing state-of-the-art wind and solar farms," commented European Energy CEO Knud Erik Andersen.

The Cobalt team consisted of Partner Paulius Markovas and Senior Associate Julija Aleska.

The firm was unable to disclose further information on the deal.

Editor's note: After this article was published, Sorainen announced that it had advised the Taaleri SolarWind II fund and Atsinaujinancios Energetikos Investicijos as the buyers. The firm’s team was led by Partners Sergej Butov and Asta Augutyte.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.