TGS Baltic has represented BaltCap Infrastructure Fund on the entrance into a EUR 16 million engineering, procurement and construction contract with Axis Technologies to develop a biomass plant in Vilnius.
The EPC agreement requires that the biomass plant be built and operational by the beginning of 2019. According to estimates, the power plant will satisfy nearly 10% of Vilnius' heat demand.
BaltCap is the largest buy-out, growth capital and private equity infrastructure investor in the Baltic States. In July 2017, BaltCap launched BaltCap Infrastructure Fund, with a planned size of EUR 100 million, to invest in infrastructure development across Lithuania, Latvia, and Estonia (as reported by CEE Legal Matters on July 13, 2017).
The TGS Baltic team representing the fund on its contract with Axis included Partner Marius Matonis, Of Counsel Donatas Zdanavicius, and Associate Giedrius Svidras.