• Fund advised by EB-SIM buys Lithuanian onshore wind farm
• Plant has an installed capacity of 21.5 megawatts

An Article 9 fund advised by EB – Sustainable Investment Management GmbH (EB-SIM) is investing in an onshore wind farm project in Lithuania for the first time. The fund is buying 100 percent of the shares in Vèjų Spektras UAB from Quaero European Infrastructure Fund, an infrastructure fund managed by Quaero Capital, as part of a share deal. The wind farm has been in operation in the municipality of Šilutè since 2012. It has an installed capacity of 21.5 megawatts and is located around 30 kilometers from the Baltic Sea coast.

The wind farm in Ṧilutè supplies 85,000 households with electricity. The turbines also save 7,300 tons of CO2 equivalents per year. With this new investment, EB-SIM is further expanding its Europe-wide expertise in the field of renewable energies. It now manages investments in more than 50 projects with a total capacity of around 3 gigawatts in Germany and seven other European countries.

EB-SIM’s proven track record in investing in renewable energy projects was a decisive factor in the award of the project. The strong commitment to sustainably developing energy portfolios in new markets and improving environmental impact was equally important.

EB-SIM will act as advisor to the fund and its experienced portfolio management team will be responsible for the active management of the Lithuanian investment. It will work closely with the local operations team.

“This project shows that we are continuing to grow internationally. Our aim is to achieve a double return for investors – a positive environmental and a positive economic return,” says Dr. Bernhard Graeber, Managing Director and Head of Alternative Assets at EB-SIM. “We are also further diversifying our portfolio with this first investment in a Lithuanian project.”

The turbines are maintained by Enercon, which is also the turbine supplier: Nine Enercon E82 and one E53 wind turbine are in operation in Ṧilutè.

“We are delighted to hand over the wind farm in Ṧilutè to such a competent partner as EB-SIM,” says Sébastien Bourget, Managing Partner at Quaero Capital. “EB-SIM has convincingly demonstrated that it is well versed in new markets. It understands the regulatory conditions as well as the local market dynamics. In addition, it can expertly structure such transactions, improve financial returns and thus meet the expectations of all stakeholders.”

Both parties have agreed not to disclose the sale price