From this month, Centrica Energy will take on the responsibility of managing and trading power from three European Energy renewables assets in Lithuania.
The agreement concerns the Telsiai 1 and Telsiai 2 wind farms, which have a combined installed capacity of 120MW and the 78MW Anyksciai PV array.
“We appreciate this cooperation agreement with Centrica Energy which is also a sign that the Baltic electricity market is maturing, including also with a growing need for more PPAs,” said European Energy deputy chief executive Jens-Peter Zink.
“This contributes to the market’s attractiveness for global investors. At European Energy, we view this positively, as it will lead to further development of renewable energy.”
In Lithuania European Energy has added more than 383MW to the country’s renewable energy infrastructure.
The company has over 1.6GW of projects in its Lithuanian pipeline.
These agreements have increased Centrica’s portfolio of wind and solar assets under management in the Baltic states to a total of 366MW.
Centrica Energy’s vice president of renewable energy trading & optimisation Kristian Gjerlov-Juel added: “We have set an incredibly ambitious target to expand our portfolio of third-party renewable assets to 30GW by 2030.
“To responsibly achieve this goal, we need to maintain a diversified portfolio-not just in terms of renewable technology types, but also in geographic distribution.
“Our position in the Baltics is a key part of that strategy, while we continue to seek opportunities and partnerships in important renewable markets across Europe.”