Notification on material event
Regarding the establishment of UAB Lietuvos Energija Renewables
Lietuvos Energija, UAB (hereinafter – the Company or Lietuvos Energija), legal entity code: 301844044, registered office address: Žvejų st. 14, LT-09310 Vilnius.
The gross nominal value of the bonds issued by Lietuvos Energija, UAB, is EUR 600,000,000, ISIN codes – XS1646530565; XS1853999313.
Lietuvos Energija seeking to develop further its renewable generation portfolio as well as optimize the activities its wind energy generation companies, has approved the establishment of a new company, which will control the shares of its existing subsidiaries engaged in wind power generation and renewable power generation development.
This decision was consented by the Ministry of Finance of the Republic of Lithuania representing shareholder interest in UAB Lietuvos Energija.
It is planned that the newly established company UAB Lietuvos Energija Renewables will start operating at the beginning of 2019. Lietuvos Energija will own 100 % of the shares of UAB Lietuvos Energija Renewables.
The establishment of the new company will simplify the management and development of wind and solar energy, and will help to concentrate competences, consolidate financial resources and to achieve operational synergies.
UAB Lietuvos Energija Renewables will control five companies operating wind farms in Lithuania and Estonia. It is planned that the company will also develop the Group's investment in the renewable energy resources in the future.
The new company will implement the goals set out in the Lietuvos Energija strategy LE 2030 related to the development of green generation capacities in Lithuania, the Baltic Sea and Central and Eastern Europe regions, acquiring power plants and developing new projects.
More information: Laura Šebekienė, Head of Corporate Communications of Lietuvos Energija +370 633 99940, email@example.com