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

"The company's strategy envisages that the group will own 400 MW of green generation in the Baltic states and Poland by 2020. We are open to all offers and we are interested in various opportunities, but for the moment, we cannot speak about concrete deals," Lietuvos Energija spokesman Arturas Ketlerius told.

The business consulting and audit firm Ernst & Young Baltic has won a 77,400-euro contract from Lietuvos Energija to perform a valuation of two companies in Poland by August 27, 2019. 

Lietuvos Energija CEO Darius Maikstenas told in July that the group's planned investments in renewable energy could be related both to the implementation of new wind or solar power projects and to the acquisition of existing farms.

"Talks on possible acquisitions are taking place all the time. There are many of these across the region, the Baltic states and Poland. We plan that there will be deals this year," he said.

Lietuvos Energija has officially confirmed that it wants to buy 100% stakes in Vejo Vatas and Vejo Gusis from Lithuania's Stemma Group, saying that the deal will make it the second-biggest wind energy producer in the Baltics with a 9% market share. 

The group has in recent years acquired Eurakras, a company that owns wind farms in Lithuania, and Estonia's Tuulueenergia for 32 mln euros.