Leading dedicated private equity and venture capital investor in the Baltics engages in the biogas business

Eversheds Sutherland Bitans team provided legal assistance to Baltcap Infrastructure Fund in the investment of 9,45 million euros in Latvian biogas business.

The fund obtained 75% stake in a joint-venture holding company, and the holding subsequently purchased three biogas companies, which own biogas plants working with the total power of 4,9 MW and two agricultural companies, providing the biogas plants with the necessary raw material.

Eversheds Sutherland Bitans team was led by senior partner Maris Vainovskis, who worked alongside with the assistant attorney at law Elina Vilde.

The newly created joint-venture remained co-owned by the fund and the preceding major shareholder of the group, to ensure the continuity of the established business operations.

The long-term objective of this strategic investment in the renewable energy business is to develop successful biogas business for a sustainable investment portfolio to the investors of BaltCap Infrastructure Fund, consisting of major Baltic pension funds, life insurance companies and international financial institutions.

Maris Vainovskis, Eversheds Sutherland Bitans senior partner and project leader commented:

"With a solid investment in the renewable energy sector, BaltCap Infrastructure Fund as the leading private equity and venture capital investor has created an efficient biogas portfolio, which will ensure long-term returns. The success of this transaction is a joint effort of both parties, and it was a pleasure to work with such dedicated professionals."