Lithuanian Finance Minister K. Vaitiekūnas addressed the recent sale of shares from the Vilnius cogeneration plant during a government hour in the Seimas, asserting the sale aligned with commitments to the European Commission and emphasizing confidence in the company unless proven otherwise.
Lithuanian Finance Minister K. Vaitiekūnas recently commented on the sale of a share in the Vilnius cogeneration plant, which was part of obligations to the European Commission. He expressed clarity regarding the sale process, emphasizing the expectation for thorough scrutiny of the purchase procedures to ensure there are no doubts about the decision's prudence. The minister's remarks highlight the government's stance on the transaction's legitimacy and its alignment with regulatory expectations.
In late February, "Ignitis Group" announced it had reached an agreement to sell shares in the plant valued at 120 million euros to the "Quaero European Infrastructure Fund III," with the plant's equity value in the agreement amounting to 244 million euros. This substantial transaction illustrates the strategic maneuvers being undertaken within Lithuania's energy sector as the government seeks to balance regulatory compliance with investment interests. The financial minister's assurances aim to maintain public trust during this pivotal transition.
The Competition Council has already received a request from the company to permit it to gain control over a portion of the Vilnius plant. The completion of the sale is anticipated in the second quarter of 2026, pending the necessary approvals from relevant authorities. The progress of this sale and its implications for the local energy market will be crucial for stakeholders, as it reflects broader trends in energy privatization and infrastructure investment within the European context.
