OREANDA-NEWS. October 20, 2010. SORAINEN Lithuania advised on the sale of Naujoji energija, a company developing a 40 MW onshore wind farm which currently stands as the largest wind farm project in Lithuania, to Estonian investment fund Freenergy and Scandinavian energy company Vardar Eurus, reported the press-centre of SORAINEN.

According to the investors, project construction and development costs will total EUR 60 million. SORAINEN advised Naujoji Energija and its shareholders on project development (including complex advice on land development issues related to over 60 land plots with total area exceeding 230 hectares plus entering into a master lease agreement) and assisted shareholders throughout the sale process.

The transaction was closed in August 2010. Our team was led by partner Laimonas Skibarka and senior associate Sergej Butov.