Sorainen has advised Quaero European Infrastructure Fund III, managed by Quaero Capital, on its agreement with the Ignitis Group to acquire a 49% stake in the Vilnius Combined Heat and Power Plant in Lithuania. Ellex advised the Ignitis Group.
According to Sorainen, under the agreement, 100% of the plant’s equity is valued at EUR 244 million, with the 49% stake valued at EUR 120 million, comprising a fixed purchase price of EUR 110 million and a conditional earn-out of EUR 10 million linked to CHP’s performance. The Vilnius CHP plant has an electrical capacity of up to 93 megawatts and a thermal capacity of up to 239 megawatts, using post-sorting non-recyclable municipal waste and locally sourced renewable biomass as fuel.
The Sorainen team included Partners Sergej Butov and Monika Malisauskaite-Vaupsiene, Counsels Andrius Simkus, Gerda Skirbutiene, and Raminta Karlonaite-Durnan, Senior Associates Michailas Molis, Aliaksei Vashkevich, Julija Kirkiliene, Linas Petronaitis, Marika Grunte, and Povilas Uzkuraitis, and Associates Danas Sniute, Radvile Kvederaite, Barbora Bernatonyte, and Ryte Reciunaite.
The Ellex team included Partner Ramunas Petravicius, Karolis Kacerauskas, and Sarunas Keserauskas, Senior Associate Andrej Jemeljanov, Expert Arvydas Gruseckas, and Associate Patricija Mazeikaite.
