European Energy Sells Lithuania 470-MW Hybrid to Energix

• European Energy sells Lithuania’s 470-MW Jonava hybrid renewables project to Energix for up to €18.9M—140MW wind, 330MWp solar, 320MWh storage—financing secured and 2027 operations targeted.

European Energy has sold its 470-MW hybrid renewable project in Lithuania to Energix Renewable Energies. The Jonava development combines about 140 MW of onshore wind, 330 MWp of solar photovoltaic capacity, and a 320 MWh battery energy storage system (BESS), the Danish developer said.

Energix will pay up to €18.9 million for the acquisition, having already paid about €16.4 million at closing. The remainder will be paid under binding agreements until completion. Energix is arranging construction financing with a three-bank syndicate and expects construction to start shortly, with operations targeted for 2027. The project is projected to generate €64 million to €73 million in annual revenues and €52 million to €61 million in full-year EBITDA.

What deal terms, capacity mix, and financing timeline define Energix’s Lithuania project acquisition?

- Deal terms (purchase price and payment structure)
- Energix Renewable Energies acquired the 470 MW Jonava hybrid project from European Energy.
- Total consideration is up to €18.9 million.
- Energix paid about €16.4 million at closing.
- The balance is covered through binding agreements, with remaining payments scheduled to be made as the project reaches completion.

- Capacity mix (what the project includes)
- Onshore wind: ~140 MW
- Solar photovoltaic (PV): ~330 MWp
- Battery energy storage system (BESS): ~320 MWh

- Financing timeline (construction funding and project schedule)
- Energix is putting in place construction financing via a three-bank syndicate.
- Construction is expected to begin shortly after closing/financing finalization.
- Commercial operations are targeted for 2027.