Quaero Capital to acquire 49% stake in Vilnius cogeneration plant from Ignitis Group

Quaero Capital's acquisition of a 49% stake in the Vilnius cogeneration plant from Ignitis Group for €120 million represents a significant investment in Lithuania's energy infrastructure. This transaction allows Ignitis Group, a major international energy company, to partially monetize a key asset while retaining majority control. For Quaero Capital, this acquisition provides access to a stable, operating biomass-fueled power generation asset within the European Union, aligning with the fund's investment strategy in infrastructure. The deal is expected to close in the second quarter, pending regulatory approvals, and signifies continued investor interest in renewable energy projects within the region. The deal is notable for its size, involving a substantial investment of €120 million, and the participation of a prominent player in the Lithuanian energy market, Ignitis Group. The acquisition by Quaero Capital, through its Quaero European Infrastructure Fund III, demonstrates the fund's commitment to expanding its portfolio of infrastructure assets. This transaction also highlights the ongoing trend of energy companies seeking strategic partnerships and capital injections to support the development and operation of renewable energy projects. The deal's focus on biomass technology further underscores the growing importance of sustainable energy sources in the European energy mix.