Danish independent power producer (IPP) European Energy has divested a 470MW hybrid project in Lithuania to Israel-based IPP Energix.
The Jonava project will combine 330MWp of solar PV, 140MW of onshore wind and 320MWh of energy storage. Construction is expected to begin shortly, with full commercial operations targeted by 2027.
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“We have been able to manage a complex development process and deliver a project that meets the technical, regulatory and commercial requirements of international buyers,” said Jens-Peter Zink, deputy CEO of European Energy.
“Developing renewable energy assets to a stage where key risks are addressed and value is clearly defined is what European Energy excels at around our many markets. This model allows us to swiftly push renewable energy deployment and recycle capital into new projects.”
At the start of 2026, European Energy had 1.3GW of renewable capacity under construction across eight countries, alongside 662MW of grid-connected assets. The company also reported a 6GW pipeline entering the structuring phase.
The IPP also sold its remaining 50% stake in the 151MW Mineo solar PV project in Catania, Sicily to investment manager Sosteneo, giving the latter full ownership of the asset. Sosteneo had initially acquired a 50% stake in the project in November 2023.
