European Energy Divests its Biggest Windfarm Portfolio in Lithunia

European Energy has signed an agreement for the sale of three wind farms in Lithuania with the total capacity of 185.5 MW to a Lithuanian entity

A view of a solar farm developed by European Energy in Troia, Italy. Credit: European Energy website

A view of a solar farm developed by European Energy in Troia, Italy. Credit: European Energy website

European Energy has signed an agreement for the sale of three wind farms in Lithuania with the total capacity of 185.5 MW to a Lithuanian entity. The wind farms are in the municipalities of Anykščiai, Jonava and Rokiškis. The wind farms are under construction and consist of a total of 34 units GE 158-5.5 MW HH 151m turbines. Closing of the agreement is expected to take place at the end of November 2021.

Knud Erik Andersen, CEO of European Energy, said: “Even though we have only recently entered the Lithuanian market, the divestment of such a large wind portfolio to a European renewables fund manager shows that we are in the forefront of developing and constructing state-of-the-art wind and solar farms.”

European Energy has been in Lithuania since 2018 and will be constructing more than 300 MW of wind power capacity in 2022. This is more than half of the total wind power capacity that Lithuania had in 2020. European Energy has an additional 600 MW in the development pipeline.

European Energy is currently constructing more than 1.2 GW of energy capacity in 26 wind and solar projects across eight European countries.

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