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.
