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Encavis acquires wind farm in Telšiai

In Telšiai, Lithuania, E energija and GE Energy Financial Services announce the sale of 100% of the shares of an onshore wind farm.

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In Telšiai, Lithuania, E energija and GE Energy Financial Services announce the sale of 100% of the shares of an onshore wind farm.

A wind farm in operation since 2016

In Telšiai, E energija and GE Energy Financial Services announce the sale of the 69MW wind farm to Encavis AG. The wind farm consists of 13 new generation 5.3MW Cypress turbines from GE Renewable Energy. In addition, this is the first wind farm of this size built and connected to the grid in Lithuania since 2016.

This acquisition is the first investment in a wind farm in Lithuania by Encavis AG. The electricity produced by the park increases the amount of domestic wind electricity produced in Lithuania compared to 2021. The Telšiai wind farm is responsible for a 17% increase.

In addition, E energija Group will partner with Encavis as a commercial and technical asset manager. Thus, the company will ensure the efficient operation of the wind farm with General Electric Lithuania. In fact, General Electric Lithuania provides full service for a period of 30 years.

A construction without state aid

Gediminas Uloza, CEO of E energija Group, says:

“We are delighted to partner with Encavis, a European leader in IPPs. Working closely with Encavis, E energija Group will further ensure the reliable operation of the wind farm and use its expertise to expand its portfolio with more renewable energy projects. This agreement with Encavis will allow us to move forward with the development of larger scale projects and contribute even more significantly to building an energy independent future for our country and mitigating climate change.”

E energija and GE Energy Financial Services developed the project in Telšiai as partners of the wind farm project company. Moreover, it was the first wind farm built without state aid or feed-in tariffs (FiT) in Lithuania.

Fabio Borba, CEO of GE Energy Financial Services, said:

“The development of this project has been a cross-border effort and a partnership with E energija. We are delighted to invest in such a landmark project and play an important role through direct equity investment to accelerate the energy transition in Lithuania. We look forward to helping our customers decarbonize across Europe through financial and technology solutions.”

In the municipality of Tryškiai, near the Telšiai wind farm, E energija also invested in a service center. Thus, it serves as an office for the employees of General Electric Lithuania and E energija who maintain the wind farm.

In the Telšiai region, the E energija Group plans to build at least 200MW of additional wind power projects. In addition, the company also plans to develop 200MW of solar projects. Thus, in total, the company aims to develop up to 2000MW of projects in Lithuania and neighboring countries in the next five years.

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