TGS Baltic assisted the shareholders of a Latvian solar energy project development company in selling 100% of its shares to the Lithuanian company UAB Ignitis renewables.

05.01.2023 TGS Baltic assisted the shareholders of a Latvian solar energy project development company in selling 100% of its shares to the Lithuanian company UAB Ignitis renewables.

On 29 December 2022, the shareholders of a Latvian solar energy project development company signed an agreement on sale of 100% shares of its company to the Lithuanian state-owned company UAB Ignitis renewables.

The planned total capacity of the solar projects under development is approximately 300 MW. Construction of the projects is expected to begin in 2024. While the start of commercial operation of the projects is planned for around 2025.

As announced by UAB Ignitis renewables total preliminary investments amount up to EUR 213 million, which also includes the project acquisition price.

TGS Baltic’s assistance to the Latvian solar energy project development company encompassed performing of vendor’s due diligence of the company and the solar projects, as well as full necessary transactional support to the company’s shareholders.

TGS Baltic assistance was headed by Agnese Hartpenga, partner and attorney at law at TGS Baltic, specialized in energy projects, as well as senior associate Anna Vaivade, associate Elīna Lesničenoka and associate Toms Tīdemanis.

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/

 

For more information, please refer also to: https://view.news.eu.nasdaq.com/view?id=bb7b419891bc2fd4b2dffec7767828568&lang=en