The Modus Asset Management Foundation has acquired solar power plants

Modus Remote Solar Fund I, a renewable energy company Green Genius managed by the same group, has acquired four power plants throughout Lithuania with a total capacity of 13.6 megawatts (MW), Modus Asset Management reported.

On the transaction, the buyer was advised by Ellex in Lithuania team.

The portfolio consists of four solar power plants located in Lithuania: the most powerful of them and the largest in the country in general – Šiauliai power plant (5 MW), the second-largest – Žeimiai power plant (4.2 MW, Jonava district) and two smaller ones – Širvintos (2.6 MW) and Subačius (1.8 MW, Kupiškis district).

Modus Remote Solar Fund I intends to increase its investments in remote solar power plants to 100 MW in the future and maintain its leading position in managing its largest portfolio in the country.

The client was advised by Associate Partner Rūta Armonė, Senior Associates Aleksandr Asovskij, Gabrielė Vazniokaitė, Kristupas Spirgys and Edvinas Beikauskas, Associates Jomilė Žabolė, Paulius Vaitkevičius and others.