European Energy has agreed to sell a 470 MW wind and solar project in Lithuania to Energix, with the transaction expected to be completed later in 2025. The deal includes a wind farm with an estimated capacity of 140 MW and a photovoltaic facility of up to 330 MW.
The project will be developed by European Energy and brought to a stage where it is ready for the next phase of investment and construction. The company anticipates that the project will reach the ready-to-build stage in the coming months.
Deputy CEO Jens-Peter Zink stated, “European Energy is pleased to complete this sale in Lithuania and views the collaboration with Energix as a positive development. This divestment demonstrates the confidence that market leaders have in European Energy as a renewable energy developer with a diverse and strong portfolio of renewable energy assets.”
“We look forward to seeing these projects progress under their new ownership and are keen to work together with Energix to advance the projects and expand renewable energy capacity in Lithuania,” he added.
Lithuania is aiming to have approximately 55% of its electricity generated from renewable sources by 2030 as part of its broader energy independence strategy. Currently, around 60% of the country’s electricity consumption is met through imports.
Thorvald Spanggaard, Head of Project Development at European Energy, highlighted the importance of the Baltic region to the company, saying, “The Baltics is one of the key markets for European Energy, and our strong team in the region has constructed around 390 MW of renewable energy capacity, and we have approximately 150 MW of further solar and storage capacity currently under construction.”
“It is a remarkable achievement, considering we established our office in the country just four years ago,” Spanggaard added.
The project sale underscores the growing interest in renewable energy development in Lithuania, which is increasingly focused on reducing its reliance on imported electricity while boosting its renewable energy capacity.
