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The new company is led by Paulius Petraska who used to work for the group's other company, Renerga, operating 117.5MW wind farms in Lithuania and abroad, Achemos Grupe said.

Nerius Jasinavicius, a board member of the group, said earlier the group had already drawn up preliminary business plans and was meting with global leaders in this market and potential partners.

In his words, Klasco, a stevedoring company that is part of the group, owns a large unused territory within the port of Klaipeda, on Smelte Penninsula, and it's suitable for a production facility for components of wind farms.

Achema owns 60MW find farms in the Czech Republic and Croatia and they produced 114,500 MWh of power last year.

Moreover, the group's another company, Renerga, is building in Lithuania two hydropower plans and find farms with total installed power of 57.6 MW. All those power plants produced 162,400 MWh of power last year.