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RASK advises BaltCap on large-scale sale of wind farm.


RASK provided advice to BaltCap investments in the sale of a wind farm to the Lithuanian state energy provider Lietuvos Energija. As a result of the deal BaltCap sold 100% of its stake in the 18MW Tuuleenergia wind farm in Estonia and 75% of their stake in the 24MW Eurakrase wind farm in Lithuania. The transaction price totalled 28 million euros.

The advice from RASK related to the sale from Tuuleenergia (i.e. the wind farm located in Estonia), and included a legal audit prior to the sale and responsibility for the transaction documentation, including drafting the contract of sale.

Tuuleenergia operates the 18MW Mäli and Tamba wind farm at Varbla, which has a total of 6 turbines – each windmill has a capacity of 3MW and stands 99 metres tall. BaltCap invested in the wind farm in 2012 through the BaltCap Private Equity Fund. Their aim as private investors was to establish and support the development of the wind farm, and this phase reached completion in 2015 when the wind farm came online.

BaltCap AS is a leading private and venture capitalist in the Baltic states, which invests in growth-oriented Baltic enterprises through investment funds and finances the purchases of enterprises. BaltCap commenced its activities in 1995 with solid experienced teams in Tallinn, Riga and Vilnius. Today, BaltCap manages several investment funds with a total volume of 260 million euros and has executed more than 60 investments.