Energy, Legislation, Lithuania, Port, Transport

International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 06:39

Stemma Group's wind farms attract market interest, not for sale yet

BC, Vilnius, 07.12.2017.Print version
Stemma Group, a Lithuanian company owned by the family of Martin Gusiatin, a former shareholder of Klaipedos Smelte, one of the Klaipeda port's biggest cargo operators, is considering selling its four wind farms, writes LETA/BNS.

Gusiatin would not comment on these intentions to BNS.


Stemma Group CEO Janina Kerpaite says that there is interest in the market, but adds that no sale process is underway yet.


"The market has been showing interest for a year now, attacking us, encouraging us or saying we would be fools to sell. I wouldn't describe such conversations as an intention or an ongoing process," Kerpaite told BNS.


"The owners (the Gusiatin family) are speaking (to those interested). It's always interesting for them to see how much their assets are worth, but I couldn't confirm that a sale process is taking place," she said.


Stemma Group, which is owned by Martin Gusiatin and Inga Gusiatina, controls four find farms in western Lithuania, including a 110-million-euro 73.5-megawatt (MW) farm in the municipality of Pagegiai, two farms of 16.1 MW and 10 MW in the district of Taurage, and a 9.13-MW farm close to Palanga.


According to information available to BNS, the state-owned energy holding company Lietuvos Energija (Lithuanian Energy) has expressed its interest in buying Stemma Group's wind farms. Laura Sebekiene, the company's spokeswoman, told BNS that the group was interested in investing in renewable energy, including wind farms.


Potential buyers could also include Sweden's furniture giant Ikea Group, which earlier this year purchased a 45-MW wind farm in the district of Mazeikiai, in northwestern Lithuania, and Finland's energy group Fortum.


The Gusiatin family back in 2008 sold a majority stake in Klaipedos Smelte to the Swiss-registered international port terminal operator Terminal Investment, which currently owns 96.11 percent of shares in the stevedoring company.

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