IKEA Group acquired a 45 MW capacity wind farm in the district of Mažeikiai by purchasing the shares in the investment fund Orion Alternative Energy Fund (OAEF) managed by the company Orion Asset Management and the shares in the company Pamario Jėgainių Energija held by the investment fund Energy Investment Fund.
The law firm GLIMSTEDT provided consultations to IKEA Group on all legal matters related to this transaction. In this transaction, the GLIMSTEDT team was led by Partner Paulius Gruodis, assisted by Associate Michailas Molis, Senior Associate Asta Macijauskienė, and other lawyers.
The wind park acquired by IKEA Group is one of the largest wind farms in terms of installed capacity and was recognised one of the most efficient wind farms in Lithuania last year. The wind turbines are 120 metres in height and 350 tonnes in weight, with a rotor diameter of 117 metres and an installed capacity of 2.4 MW.