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Linklaters and Cobalt Advise Mirova on Baltic Storage Platform Strategic Investment

Linklaters and Cobalt Advise Mirova on Baltic Storage Platform Strategic Investment

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Linklaters and Cobalt have advised Mirova on its investment in the Estonia-based Baltic Storage Platform energy storage project, a joint venture between Corsica Sole and Evecon established in 2023.

According to the law firms, Mirova’s investment, channeled through its dedicated Mirova Energy Transition 5 fund, will help facilitate the Baltic Storage Platform’s planned rollout of two large capacity storage parks in Estonia with a total capacity of 200 megawatts and a total production capacity of 400 megawatt-hours, which are planned to be built by 2025. "These storage plants will help the Estonian and Baltic electricity grid in disconnecting from the Russian grid and synchronizing it with the European grid," Cobalt reported.

Mirova, an affiliate of Natixis Investment Managers, is a French asset manager.

Corsica Sole is an independent producer of solar energy and an energy storage company.

Evecon is a developer of renewable energy in the Baltics.

The Linklaters team included Warsaw-based Partner Patryk Figiel and Counsel Christopher Quinn.

The Cobalt team included Partners Martin Simovart and Aivar Taro, Managing Associate Jesse Kivisaari, and Senior Associates Getter Villmann-Nogene, Siim Vahtrus, Sandra Sillaots, and Helen Sool.

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.