Sorainen has advised Ignitis Group subsidiary Ignitis Renewables on its acquisition of an onshore wind farm in the Plunge region, Lithuania. Roedl & Partner advised the developer's shareholders on the sale of the development company.
According to Sorainen, the potential capacity of the acquired wind farm is up to 218 megawatts.
"The project is currently at the early development stage with environmental impact assessment procedures undergoing," the firm informed. "Total preliminary investments, including the acquisition price and the construction cost, amount to around EUR 300 million. The completed wind farm will operate under market conditions."
"The acquisition is a significant step forward towards the Ignitis Group's objective to reach four gigawatts of installed green generation capacity by 2030 as set out in the strategy," Sorainen reported. "With this acquisition, the total Ignitis Group’s portfolio of green generation projects in operation, construction, and development amounts to around 4.8 gigawatts."
Ignitis Renewables is an energy company operating in the Baltic countries and Poland. The company specializes in the development of onshore and offshore wind, solar energy, biomass, and waste-to-energy projects.
Sorainen previously advised Ignitis Renewables on the acquisition of CVE in Latvia (as reported by CEE Legal Matters on September 12, 2022) and on the acquisition of three wind farm projects in Latvia (as reported by CEE Legal Matters on August 26, 2021).
The Sorainen team included Partners Sergej Butov and Asta Augutyte-Rapkeviciene, Senior Associate Laura Matuizaite-Mikste, and Associate Gabriele Raizyte.
The Roedl & Partner team included Associate Partner Liudgardas Maculevicius.
