Cobalt has advised Elektrum Eesti on its acquisition of Solarpark Kuusalu from Justkull.
Elektrum Eesti is Latvenergo Group’s Estonian subsidiary. It offers electricity, natural gas, solar energy, and electric car charging solutions under the Elektrum Drive brand.
According to Cobalt, “the Kuusalu solar park generates electricity with nearly 27,000 south-facing bi-facial panels with a total capacity of 17.4 megawatts. The park’s annual solar electricity output to the grid is approximately 17 gigawatt-hours. As a result of the transaction, Elektrum Eesti became the sole owner of Solarpark Kuusalu, spanning approximately 22 hectares in Kuusalu municipality.”
“For us, the Kuusalu solar park was a promising project also because in the future we will have the opportunity to install additional energy storage systems on the property and, if necessary, create an Elektrum Drive electric vehicle charging station near the Tallinn-Narva highway,” stated Elektrum Eesti management board member Andrus Liivand.
In 2021, Cobalt advised Elektrum Eesti on its acquisition of Imatra Elekter’s electricity retail business (as reported by CEE Legal Matters on July 22, 2021).
The Cobalt team included Managing Associate Ott Aava, Senior Associate Sandra Sillaots, and Associate Elis Toim.
Cobalt did not respond to our inquiry on the matter.
