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Achema Group Acquires Wind Farms in Croatia and the Czech Republic

  • 2018-03-14
  • LETA/TBT Staff

VILNIUS - Actualizing its strategic direction of renewable energy, Achema Group has now completed the acquisition process of several wind farms in the Czech Republic and Croatia. The electricity generated by these wind turbines will be sold to electricity network operators in the two countries. The purchase of the wind turbines was finalized by sister company Renerga and financed by SEB Bank and a significant amount was invested by Achema Group itself.

“Renewable energy is one of the strategic directions of the Group and to realize our goals we are constantly looking for attractive investment opportunities, both in Lithuania and abroad. The countries selected by us for this targeted investment had already enforced plans for wind energy development. These countries have a clear investment and business environment and a transparent support scheme. Moreover, the quality of the projects is fully in line with our expectations. As the development of wind farms in Lithuania has come to a halt, we are encouraged to look for investment opportunities abroad. Aside from that, the energy strategy in Lithuania has not yet been approved and the business and investment environments are unstable. We do not see any long-term perspectives in the sector here,”  says Lidija Lubienė, chairman of Achema Group.

“As one of the main funders of wind energy in Lithuania, we notice a significant increase in electricity consumption generated from renewable energy sources. In 2016, a tenth of the total consumed electricity in Lithuania alone was generated by wind turbines. Obviously, the price for electricity produced in this way will decrease in the future thanks to development of wind energy technologies and the growing use thereof,” says Vilius Juzikis, member of the board and director of the Corporate Banking Division at SEB Bank.

The wind farm acquired by the Group in Croatia offers an installed capacity of 42 MW. In addition, this purchase includes infrastructure which is ready for further development and is located just 45 km from the Port of Zadar. The wind farm was established three years ago and consists of 14 wind turbines which were supplied by Danish manufacturer Vestas. The wind farm in Croatia constitutes about one tenth of the country’s wind energy market capacity (approx. 400 MW).

A large number of foreign financial and strategic investors partake in the wind energy sector in Croatia. They choose the country because of its favorable subsidy forms, its perspectives for EU integration, and not to forget: its steady and strong winds.