TGS Baltic assisted Enefit Green AS with selling Brocēni pellet mill and cogeneration plant in Latvia to Warmeston OU, the leading Estonian wood pellet producer.

03.01.2024 TGS Baltic assisted Enefit Green AS with selling Brocēni pellet mill and cogeneration plant in Latvia to Warmeston OU, the leading Estonian wood pellet producer.

Enefit Green AS has agreed to divest Brocēni pellet mill and biomass CHP plant to Warmeston OU by selling 100% shares of Enefit Green SIA (now Warmeston SIA) and SIA Technological Solutions. Brocēni business includes a pellet mill and a biomass cogeneration plant, both built in 2016.

Enefit Green SIA (now Warmeston SIA) and SIA Technological Solutions employ, on average, 45 people, and the pellets are exported to EU member states. The electricity generated at the cogeneration plant is sold to Nord Pool. The value of the transaction is € 32 million.

Enefit Green AS is a publicly traded leading diversified renewable energy producer in the Baltic Sea region. Enefit Green AS is increasing its green energy generation capacity to increase the supply of affordable green electricity and strengthen Estonia’s energy security. The company is currently building five wind farms in Finland, Estonia, and Lithuania with a total capacity of 525 MW and five solar power plants in Estonia, Latvia, and Poland with a total capacity of 100 MW.

TGS Baltic acted as a legal advisor of Enefit Green AS on the project. The team consisted of partner Kadri Kallas, partner Triin Kaurov, associate partner Triinu Järviste, senior associate Mirko Kikkamägi, senior associate Vitali Šipilov, senior associate Mari Anne Rohtla, partner Andra Rubene, partner Agnese Hartpenga, senior associate Anna Vaivade, senior associate Māra Stabulniece, senior associate Dita Buša, associate Elīna Lesničenoka, associate Evija Ābele and associate Toms Tīdemanis.

For more detailed information please refer to: 

https://enefitgreen.ee/en/uudised/enefit-green-muub-brocni-koostootmisjaama-ja-pelletitehase-warmestonile

TGS Baltic is a top-tier full-service business law firm in Latvia, Estonia, and Lithuania, employing more than 150 lawyers across the Baltics. http://tgsbaltic.com/