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Lithuanian Energy paid Gusiatinas 22 mln euros for his wind farms

BC, Vilniaus, 07.11.2018.Print version
Lithuania's state-run energy group Lietuvos Energija (Lithuanian Energy) has paid Stemma Group, a company owned by Martinas Gusiatinas' family, 21.76 mln euros for three wind farms, informs LETA/BNS.

Lietuvos Energija acquired 100% shares of Vejo Vatas and Vejo Gusis and the shareholder’s claim rights. The transaction was finalized on November 5, the company announced via the Nasdaq Vilnius Stock Exchange.

Vejo Vatas operates a wind farm of 14.9 MW and Vejo Gusis operates two wind farms with the capacities of 10 MW and 9.1 MW.

"Such acquisitions correspond to the strategy of the company, expand and diversify its activities, increase the group’s value, as well as dividends paid to the State. Following this transaction, the company became the second largest producer of wind energy in the Baltic States, occupying 9% of the total market," Lietuvos Energija said.

The acquired winds farms will have an 86.9 euro MW feed-in tariff for another four or five years. The group has an objective to have 400MW green energy generation capacities in the Baltic states and Poland by 2020.



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