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Evecon sells hybrid renewable energy project in Lithuania
Estonian energy developer Evecon, via its subsidiary UAB Evecon, has sold a ready-to-build hybrid renewable energy project in Lithuania’s Marijampolė region to Energix Renewable Energies. The transaction is valued at €25.4 million (approximately $28 million).
The hybrid project consists of development rights for an approximately 220 MW wind farm, a 60 MW solar facility, and an energy storage system with a capacity of roughly 286 MWh. All components are located at the same site.
Energix Renewable Energies, which is listed on the Tel Aviv Stock Exchange, paid €7.7 million upon the transaction's completion in September. The remaining €17.7 million will be paid following the achievement of specific milestones related to technical working designs. Energix estimates total construction costs for the project will be approximately €400 million and expects to begin commercial operations by the end of 2028.
Entities
Energix Renewable Energies · Evecon · Karl-Joonatan Kvell · Marijampolė · UAB Evecon
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Energix paid €7.7 million upon completion of the transaction. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] Evecon sold a hybrid renewable energy project in Lithuania's Marijampolė region to Energix Renewable Energies. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] The remaining €17.7 million will be paid after technical design milestones are met. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] The sale and purchase agreement was signed in August and closed in September. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] Construction costs for the project are estimated at approximately €400 million. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] The total sale price is €25.4 million. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] Energix expects wind turbine deliveries to begin in July 2027. www.europesays.com · www.mercomindia.com · mercomcapital.com
- [● 3 SOURCES] The project includes 220 MW of wind, 60 MW of solar, and 286 MWh of energy storage capacity. www.europesays.com · www.mercomindia.com · mercomcapital.com