Corporate, Commercial Law & M&A
March 28, 2022

TRINITI advises Utilitas Wind on 33 wind turbines acquisition in Latvia

TRINITI provided M&A transaction and legal support to Estonian energy company Utilitas Wind, which acquired Grobiņa wind farm in Latvia in March 2022. The wind farm consists of 33 Enercon wind turbines with a total capacity of 19.8 MW. In the course of the transaction, shares in 12 companies were acquired. The newly acquired Grobiņa wind farm complements the 58.8 MW Tārgale wind farm already owned by Utilitas Wind, which was purchased in 2021 with the involvement of law firm TRINITI.

Utilitas Wind plans to continue operating and repowering wind turbines and expand its renewable energy portfolio in Latvia. By acquiring the Grobiņa wind farm and continuing the construction of Tārgale wind farm, Utilitas Wind, with the support of TRINITI, is successfully working to improve the energy security in Latvia, reducing its dependence on imported energy sources and increasing the share of renewable energy. Triniti is pleased to assist in achieving the EU climate neutrality targets in respect of proportion of renewable energy produced in Latvia.

Utilitas is the largest producer of renewable energy in Estonia, as well as the largest district heating operator in the country.