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Lietuvos Energija closes purchase of 94-MW wind farm in Poland

Lithuania's Lietuvos Energija UAB on May 27 completed the purchase of all shares and claim rights in Pomerania Invall Sp. z o. o. from the Spanish wind farm project company IGE.

The company provided its subsidiary Lietuvos energija renewables UAB a €44 million loan to finance further renewable investments and to close the transaction, according to a May 28 news release.

Pomerania Invall is developing a 94-MW wind farm in Poland. Construction of the Pomerania facility is expected begin in the second quarter of 2019. The project is anticipated to enter operations in 2021.

Lietuvos Energija plans to invest €127 million in the Pomerania project, which won a 15-year guaranteed tariff in Poland's auction for renewable energy projects.

IGE is owned by environmental impact fund SI Capital.