The planned total capacity of the project to be developed is approximately 200 MW. The project is in the early stages of development. Construction of the project is expected to begin around 2025-2026. While the start of commercial operation of the project is planned for around 2027-2028.
The total investment in the project amounts to EUR 270 million. The purchase price payment depends on the implementation of the milestones specified in the agreement.
TGS Baltic assisted a Latvian wind and solar energy project development company with the project development, provided all necessary transaction support to the shareholders of the company and the developers of the project with the sale of its shares to UAB Ignitis renewables, and continues to provide the necessary support in the implementation of the agreement and achievement of the milestones specified in the agreement.
Armands Masulis, attorney at law of TGS Baltic, represents the shareholders and developers of a Latvian wind and solar energy project development company.
About Ignitis grupė
AB Ignitis grupė is the leading utility and renewable energy group in the Baltics. The group's main activity is focused on the operation of electricity and gas distribution networks and the management and development of the green energy production portfolio. Group companies produce, distribute, supply energy, and provide other energy services. The group aims to increase the green energy production portfolio by reaching a 4 GW installed capacity by 2030.
For more detailed information about the transaction please refer to: https://view.news.eu.nasdaq.com/view?id=bb2c9f8f2870b45ef94b88582c9fce647&lang=en
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/