UAB Vilniaus kogeneracinė jėgainė (VKJ) obtained a EUR 190 million loan from the European Investment Bank (EIB) for the greenfield construction of new combined heat and power (CHP) plants in Vilnius.
The financing was structured as a corporate loan rather than as project finance. TGS Baltic lawyers have found a compromise on those contractual clauses which generally are not amended by the EIB. TGS Baltic team successfully completed negotiations with agreed complicated carve-outs from those restrictions which are typically untouchable.
TGS Baltic Partner Vilius Bernatonis and Associate Partner Ieva Dosinaitė were advisors to Lietuvos energija, UAB in this process on all related legal issues.
Lietuvos energija is a state-controlled company group and is one of the largest in the Baltic States with more than 4,500 employees. The main activities of the group include power and heat distribution and supply, natural gas trade and distribution as well as construction and maintenance of power plants and the grid. The rights and obligations of the shareholder of Lietuvos energija group are implemented by the Ministry of Finance of the Republic of Lithuania.
