European Energy Exits 3 Wind Farms in Lithuania

Danish renewable energy developer and financier European Energy has signed an agreement to sell three wind farms in Lithuania with the total capacity of 185.5 MW to a Lithuanian firm. The agreement is expected to be closed by November end. The wind farms are under construction and consist of a total of 34 GE 158-5.5 MW turbines. Lithuania has a quarter of its energy coming from renewable sources, but almost 80% of this is from Biomass. Wind is the next highest contributor at close to 7%.

European Energy has been present in Lithuania since 2018 and has a pipeline of over 300 MW of wind power capacity in the country by 2022. This is beyond an additional 600 MW in the development pipeline, which easily makes European Energy the largest wind energy developer in Lithuania.

The company is currently constructing more than 1.2 GW of energy capacity in 26 wind and solar projects across eight European countries. Almost 800 MW of this is secured by PPA or FiT by the end of 2020.