Cobalt has advised the BaltCap Infrastructure Fund on the sale of its Energia Verde to Gren.
The transaction is contingent on customary closing conditions.
Energia Verde is a Latvian operator of biomass combined heat and power plant in the Riga region. According to Cobalt, “the woodchip-fired CHP plant is equipped with a 18 megawatt HoSt Bio-Energy Installations high-pressure water tube steam boiler and a 3.98 megawatt steam turbine.” In addition, according to Cobalt, the plant supplies Riga with electricity and heat. Gren is described by Cobalt as a “Northern European green energy company held by the Partners Group.”
In 2018, Cobalt advised BInF on its acquisition of 70% of the shares of Energia Verde from Energoeco (as reported by CEELM on October 31, 2018).
Cobalt’s team consisted of Partner Guntars Zīle and Senior Associate Martins Tarlaps.