Cobalt has advised Mirova Energy Transition 5 on signing an agreement with Evecon to develop solar plants in the Laaneranna, Pohja-Sakala, and Jarva municipalities in Estonia. KPMG Law Estonia advised Evecon.
“The total capacity will be 100 megawatts and the estimated annual production is up to 100,000 megawatt-hours,” Sorainen informed. “The size of the project located in the Laaneranna municipality is 70 megawatts, making it the largest solar plant in the Baltics at the time of completion.”
Mirova is a French investment company. Evecon is an Estonian renewable energy developer that develops wind and solar parks in Estonia, Latvia, and Lithuania.
“We are happy to support Estonia’s ambitions in deploying its own clean energy production and storage capacities,” Mirova Investment Director Olena Rezni commented. “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.”
The Cobalt team included Partners Martin Simovart and Aivar Taro, Managing Associate Jesse Kivisaari, Senior Associates Sandra Sillaots and Siim Vahtrus, and Associate Getter Villmann.
The KPMG Law team included Partner Joel Zernask and Attorney-at-Law Kaia Kuusler.
