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European Energy Sells 470 MW Wind & Solar Project in Lithuania to Energix

European Energy has signed an agreement to sell a 470 MW wind and solar project in Lithuania to Energix – Renewable Energies Ltd., with the transaction expected to close in late 2025. The project, currently in the pre-Ready-to-Build (pre-RTB) stage, consists of a 140 MW wind farm and a 330 MW solar facility.

Key Highlights:

• European Energy to Develop the Project: The company will bring the project to the Ready-to-Build (RTB) stage before the sale is finalized.
• Strengthening Lithuania’s Energy Independence: Lithuania aims to achieve 45% renewable electricity generation by 2030, reducing its dependence on energy imports (currently ~50%).
• Baltics as a Key Market: European Energy has already developed 450 MW of renewable capacity in the region, with an additional 200 MW of solar and storage projects under construction.

Strategic Impact

Jens-Peter Zink, Deputy CEO of European Energy, emphasized that the sale highlights market confidence in European Energy’s expertise. EVP Thorvald Spanggaard noted that the Baltics remain a core focus, with rapid renewable expansion in the region.

Lithuania’s grid is integrated with the European electricity network, including Poland, and participates in Nord Pool, the world’s largest electricity exchange. This transaction aligns with the country's long-term clean energy strategy, ensuring greater investment in wind and solar infrastructure.