Energy, EU – Baltic States, Legislation, Lithuania, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Sunday, 22.09.2019, 00:49

Achema buys wind farms in Croatia, Czech Republic

BC, Vilnius, 14.03.2018.Print version
Achemos Grupe, one of the biggest concerns in Lithuania, has purchased two wind farms in the Czech Republic and Croatia. This is the concern's first acquisition abroad, reports LETA/BNS.

The company said the deal had been finalized on Tuesday, the wind farms were purchased by the group's Renerga company, with the purchase financed by SEB Bankas and the concern itself.


Gintare Mierkiene, communications chief at Achemos Grupe, told BNS on Wednesday that the value of the transaction and the seller of the wind farms would not be disclosed.


"Renewable energy is one of the concern's strategic fields of operations, therefore, we are constantly searching for attractive investment projects both in Lithuania and abroad. This time, we chose to invest in the countries with planned development of wind energy," Lidija Lubiene, board chairperson and main shareholder at Achemos Grupe, said in a press release.


In her words, the group had to look for investment projects abroad because of the stalled development of wind farms in Lithuania, with the energy strategy yet to be approved and the business and investment setting unfavorable without a clear long-term perspective.


The concern purchased a 42 megawatt (MW) wind farm close to the Croatian seaport of Zadar with infrastructure ready for expansion. The park accounts for around a tenth of the country's wind energy market capacities, which total at around 400 MW.


The park in the Czech Republic is the third-largest in the country, with capacity of 18 MW. The park will make about 5 percent of the country's capacities of around 350 MW.


Annually, both parks generate approximately 143.4 gigawatt-hours (GWh) of electricity, which is sold to operators of the countries' electricity networks.


In Lithuania, Renerga owns a new 7.2-megawatt wind farm in the eastern district of Anyksciai, hydro power facilities in Pastrevys and Kavarskas, and 50-MW wind farms in Benaiciai, in the western part of the country, as well as an experimental 6-kilowatt wind power facility and an experimental 4.2-kW solar power plant.






Search site