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Lithuanian Energy buys wind farm project in Mazeikiai District

BC, Vilnius, 27.12.2018.Print version
ithuania's state-run energy group Lietuvos Energija (Lithuanian Energy) said on Thursday it had bought a wind farm project in the country's northwestern district of Mazeikiai for an undisclosed value, reported LETA/BNS.

The group bought 100% in the company, VVP Investment, from natural and legal persons. VVP Investment is developing a 60 MW wind farm of 20 turbines, Lietuvos Energija said.

"We have acquired the project prepared for green-field investment. We plan to further develop the project and build a wind farm. It will be a new experience enhancing our competence. The work done in Lithuania will be beneficial for growing the group's potential in international markets," Lietuvos Energija CEO Darius Maikstenas said in a statement.

The group seeks to operate 400MW of green energy capacity in the Baltic States and Poland by 2020. The group's investment will stand at 6 billion euros over the next 12 years, with the majority of it going to smart and green energy.

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