COBALT advised Mirova Energy Transition 5 S.L.P on signing a contract with renewable energy developer Evecon OÜ
2022 - 12 - 14
COBALT advised French investment company Mirova Energy Transition 5 S.L.P on signing a contract with Estonian renewable energy developer Evecon OÜ to develop solar plants in Lääneranna, Põhja-Sakala and Järva municipalities. Their total capacity will be 100MW and the estimated annual production is up to 100,000MWh. The size of the project located in Lääneranna municipality is 70MW, making it the largest solar plant in the Baltics at the time of completion.
According to Olena Reznik, Investment Director at Mirova’s energy transition infrastructure team, they are pleased with their co-investment with Evecon and are happy to support Estonia’s ambitions in deploying its own clean energy production and storage capacities. Estonia’s current stable energy legislation, national renewable energy support mechanism and an overall strong entrepreneurship spirit played a significant role in their decision to invest in this platform.
Mirova is a French investment company committed to sustainable investing, and its goal is to invest in innovations that deliver solutions with high environmental and social impact.
Evecon OÜ is a renewable energy developer that develops wind and solar parks in Estonia, Latvia, and Lithuania.
COBALT advised the client in all legal matters related to the project. The client was advised by Partners Martin Simovart and Aivar Taro, Managing Associate Jesse Kivisaari, Senior Associates Sandra Sillaots and Siim Vahtrus and Associate Getter Villmann.