The shareholders of UAB Vėjų Spektras have sold their 30MW wind energy park in Vydmantai to the joint venture IRL Wind, which is owned by Baltic investment company UAB Scaent Baltic and Russian energy company INTER RAO JES. Financial terms of this transaction have not been disclosed.
The wind energy park consists of 15 Enercon wind energy converters, each with a 2MW capacity. The project was financed by Lithuanian, Estonian and German private capital and a Hanza Lizingas loan.
UAB Scaent Baltic is an investment company with controlling interests in the publishing, energy and finance sectors in the Baltic States. The joint venture has acquired the wind park because of its interest in renewable energy and the best match of the interests of all involved parties, according to Paulius Vazniokas, Deputy Managing Director of the company.
Vėjų Spektras also maintains the development rights to a 20MW wind energy park in Šilutė district. With the assistance of Oaklin's team in the Baltic region, in 2010 Vėjų Spektras' shareholders explored alternative strategic options, including the development or sale of a new 20MW wind park. Exiting the operational facility via a competitive auction and maintaining the development rights of the new park was chosen as the optimal route to extract the maximum value of the investment.
Oaklins' team in the Baltic region advised UAB Vėjų Spektras' shareholders on this trade sale.
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