LRT.It
Summary
State-controlled energy group Ignitis Group said Wednesday it will sell a 49% stake in the Vilnius cogeneration plant to an infrastructure fund managed by Switzerland-based Quaero Capital for 120 million euros.
Ignitis Group CEO Darius Maikštėnas said the deal fulfils a requirement set by the European Commission when it approved 138 million euros in state aid for the project.
“First of all, we are implementing a requirement of the European Commission that was set when granting 138 million euros in support for the project. This means that the entire amount of support can be used to reduce heating prices for Vilnius residents,” Maikštėnas said in a statement. “Secondly, we have attracted one of the largest foreign direct investments in Lithuania in recent years.”
In addition, Ignitis Group said it sold one share in the plant to Lithuania’s largest district heating supplier, Miesto Gijos.
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