BaltCap Sells Wind Farms in Lithuania and Estonia to Lietuvos Energija (CEE and CIS)
Source: BaltCap
BaltCap, a private equity and venture capital firm focused on the Baltic countries, has exited the 18MW Tuuleenergia wind farm in Estonia and the 24MW Eurakras wind farm in Lithuania. The wind farms were acquired by Lithuanian state-owned energy group Lietuvos Energija. The total transaction amount, which included the buyout of BaltCap’s co-investors, was EUR28 million (approximately US$31 million) for a 100 percent stake in Tuuleenergia and 75 percent stake in Eurakras. BaltCap originally invested in the wind farms through its BaltCap Lithuania SME Fund.