European Energy has sold the Lithuanian energy project Jonava to Energix – Renewable Energies. The project has a total capacity of 470 MW and combines wind, solar and energy storage. This is stated by European Energy in a press release.
The sale is an example of the company's approach to project development, where plants mature from an early stage to so-called ready-to-build projects that can be taken over by investors. The project thus consists of approximately 140 MW of onshore wind, 330 MW of solar energy and 320 MWh of battery storage capacity. Construction is expected to start soon, while full operation is planned for 2027. The sale price is not disclosed.
- We have been able to handle a complex development process and deliver a project that meets the technical, regulatory and commercial requirements of international buyers, says Jens-Peter Zink, Deputy CEO of European Energy. He continues:
- Developing renewable energy projects to a stage where key risks are managed and the value is clearly defined is something European Energy is particularly good at across our markets. This model makes it possible to quickly accelerate the deployment of renewable energy and reinvest capital in new projects.
According to the company, the hybrid setup helps increase the utilization of the electricity infrastructure and improve the stability of the energy system. At the same time, the combination of technologies makes the project more relevant for long-term investors.
European Energy points out that the project's level of development and clear schedule have been decisive for the transaction. The company continues to work on developing a portfolio of wind, solar and hybrid projects across its markets.
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