World News: 07:35 GMT Tuesday 28th May 2019. [Lietuvos Energija UAB via Globe Newswire via SPi World News]
Lietuvos Energija, UAB, (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.
Pursuant to the decisions of the Managing Board of the Company and the Managing Board of the Company’s subsidiary Lietuvos energija renewables, UAB (hereinafter – the Renewables) dated 23 April 2019, the share sale-purchase agreement regarding 100% of the shares and shareholder claim rights of Pomerania Invall Sp. z o. o., acquired from the Spanish wind farm project company IGE (owned by environmental impact fund SI Capital), was concluded by the Renewables on 27 May 2019.
Currently, Pomerania Invall Sp. z o. o. is developing a wind farm project in Poland. The planned capacity to be installed is 94 megawatts (MW). The construction works should start in the second quarter of 2019, whereas the launch of the park’s commercial activity is expected in 2021. Last November, Pomerania wind farm project participated in Poland‘s auction for renewable energy projects organised by Polish Energy Regulatory Office and won a 15-year guaranteed tariff of PLN 214.98 MWh (approx. EUR 50 MWh).
The Company will invest EUR 127 million into the Pomerania wind farm project.
On 28 May 2019, the Company signed an agreement with the Renewables regarding a loan of EUR 44 million, granted to the Renewables to finance further investments into renewable energy projects’ development and implement the Pomerania Invall Sp. z o. o. share sale-purchase agreement.
Poland is one of the key markets for Lietuvos Energija group, which is planning an active international development of its green generation activities. The acquisitions concluded on the basis of this strategy allows the Company to expand and diversify its operations, at the same time increasing the market value of Lietuvos Energija group and ensuring a stable return for the Lithuanian State through competitive activities, developed in foreign markets.
Artūras Ketlerius, Head of Public Relations, mob. +370 620 76076, email.
Globe Newswire: 07:35 GMT Tuesday 28th May 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.