Glimstedt has advised the IKEA Group on its acquisition of a 45 MW capacity wind farm in the Lithuanian district of Mazeikiai by purchasing the shares of the investment fund Orion Alternative Energy Fund (managed by the company Orion Asset Management) and the shares of Pamario Jegainiu Energija held by the investment fund Energy Investment Fund. The sellers were advised by Ellex Valiunas.
According to Glimstedt, "the wind park acquired by IKEA Group is one of the largest wind farms in terms of installed capacity and was recognized as one of the most efficient wind farms in Lithuania last year. The wind turbines are 120 meters in height and 350 tonnes in weight, with a rotor diameter of 117 meters and an installed capacity of 2.4 MW.
The Glimstedt team was led by Partner Paulius Gruodis, assisted by Associate Michailas Molis, Senior Associate Asta Macijauskiene, and other lawyers.
The Ellex Valiunas team was led by Partner Zilvinas Zinkevicius, supported by Senior Associates Ruta Besusparyte and Gabriele Vazniokaite and Associate Edvinas Beikauskas.