COBALT advises BaltCap Infrastructure Fund in the contemplated acquisition of 70% of shares in SIA Energia verde, a biomass combined heat and power plant in Riga region, from Latvian company AS ENERGOECO. Closing of the transaction is subject to approval by Competition Council of the Republic of Latvia.
The power plant is equipped with 18 MW HoSt Bio Energy Installations high-pressure water tube steam boiler and a 3.98 MW steam turbine. The plant produces electricity and provides heat to Riga district heating systems.
COBALT performed legal due diligence on the target company and provided full legal support with transaction documentation drafting and negotiations. COBALT team includes Partner and Head of Transactions Practice Group Guntars Zīle, Partners Toms Šulmanis and Gatis Flinters, and Senior Associate Elīna Ločmele.
BaltCap Infrastructure Fund provides development capital for transport, energy, energy efficiency and other infrastructure projects in the Baltic region. The 100 million euro fund has a length of 20 years.