E energija group & GE Energy Financial Services will sell a 69MW onshore wind farm in the Telsiai region of Lithuania to Encavis AG.
The wind farm consists of 13 GE Renewable Energy 5.3MW new generation Cypress wind turbines. It is the first wind farm of this size built and connected to the grid in Lithuania since 2016.
The acquisition is the first investment into a wind farm in Lithuania by Encavis AG. The electricity generated by this park significantly increases (by approximately 17%) the amount of domestic wind electricity produced in Lithuania compared to 2021.
Furthermore, E energija group will partner with Encavis as the commercial and technical asset manager, ensuring the efficient operation of the wind farm together with General Electric Lithuania, with the latter providing a full-scope service for a 30-year period.
The project was developed by the E energija group and GE Energy Financial Services as co-sponsors of the wind farm’s project company.
“We are pleased to partner with Encavis, a leading European IPP. In close cooperation with Encavis, E energija group will further ensure the reliable operation of the wind farm and utilise its expertise to expand its portfolio with more renewable energy projects,” said Gediminas Uloza, CEO of the E energija group
“This deal with Encavis will enable us to move forward on developing projects on a larger scale and contribute even more significantly to building up an energy independent future for our country and mitigate climate change.”
Fabio Borba, Managing Director, GE Energy Financial Services, added: “Developing this project was a cross-border effort and partnership with E energija.
“We are delighted to invest in such a landmark project and play a significant role through direct equity investment to accelerate the energy transition in Lithuania. We look forward to helping our customers to decarbonise across Europe through financial and technology solutions.”