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International Internet Magazine. Baltic States news & analytics Friday, 23.08.2019, 06:27

Achema to cooperate with North China Power Engineering

BC, Vilnius, 13.06.2018.Print version
Achemos Grupe, one of the largest business groups in Lithuania, controlled by businesswoman Lyda Lubiene and her daughter, plans to cooperate with Chinese engineering consultancy North China Power Engineering for the implementation of energy projects in Central and Eastern Europe, reports LETA/BNS.

The companies signed a memorandum on Tuesday, seeking joint development of wind, photoelectric and biomass energy projects.

The memorandum was signed during a conference on the Central and Eastern European power market in Vilnius.

Moreover, the Lithuanian group signed a cooperation memorandum with Lithuanian investment company Orion, controlled by Swedish capital group Scaent Baltic. They will jointly search for opportunities to invest into the construction of power plants and renewable energy and transport infrastructure projects in Central and Eastern Europe.

In April, 2017, Orion Asset Management sold a wind farm in Lithuania's Mazeikiai District to IRI Investments Lietuva, part of Sweden's Ikea Group.

North China Power Engineering also signed another contract in Vilnius, with Ukrainian company Metropoliya MC over a 200MW power plant project, valued at 253 million US dollars.

Achemos Grupe bought two wind farms in the Czech Republic and Croatia in March and it was the group's first foreign acquisition. The group probably bought the wind farms from investment company EnerCap Capital Partners.

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