European Energy has entered into an agreement with Energix Group for the sale of a wind and solar energy project in Lithuania with a total capacity of up to 470 MW. European Energy writes in a press release.
The projects include a wind farm with an estimated capacity of approximately 140 MW and a solar cell plant of up to 330 MW. They are currently in the pre-Ready-to-Build phase, and European Energy will develop them to the Ready-to-Build stage within the coming months.
- We look forward to following the development of the projects under their new ownership and working with Energix to promote the projects and expand the capacity for renewable energy in Lithuania, says CEO of European Energy Jens-Peter Zink.
Lithuania has a goal of approximately 55 percent of the country's electricity coming from renewable energy sources by 2030. The country currently imports around 60 percent of its electricity consumption, and electricity trading takes place through Nord Pool. Therefore, European Energy sees great opportunities in the country.
- The Baltic countries are one of the most important markets for European Energy, and our strong team in the region has built around 390 MW of renewable energy capacity, while we currently have approximately 150 MW of additional solar and storage capacity under construction, says Thorvald Spanggaard, EVP and Head of Project Development at European Energy.
The transaction is expected to be completed later in 2025.
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