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AALBORG & HELSINKI, MARCH 1 2024 – Centrica Energy, Taaleri Energia, a leading renewable energy developer and fund manager, and Lords LB Asset Management, a Lithaunia based fund manager, have today announced the signing of a Power Offtake Agreement for the Rokiškis and Jonava wind farms, developed in cooperation between the Taaleri SolarWind II fund and closed end investment company Atsinaujinančios Energetikos Investicijos.

Starting February 2024, Centrica Energy is offtaking power production from the two wind farms located in the Utena and Kaunas counties of Lithuania, with a total installed capacity of 136MW. Generating 408GWh annually, the wind farms will produce green electricity equivalent to the consumption of approximately 197,000 households, offsetting 123,000 tonnes of CO2e emissions every year.


"Our commitment to delivering services and solutions that support the growth of sustainable energy systems across Europe is unwavering, and it’s fantastic to be on that journey alongside some of the leading developers and fund managers in the renewables industry."

Kristian Gjerløv-Juel, Vice President for Renewable Energy Trading & Optimisation

Kristian Gjerløv-Juel, vice president of renewable energy trading & optimisation at Centrica Energy said “We’re excited to further build on our strong cooperation with Taaleri Energia, expanding our relationship beyond the Finnish, Swedish, and Norwegian markets to now include Lithuania as well. Our commitment to delivering services and solutions that support the growth of sustainable energy systems across Europe is unwavering, and it’s fantastic to be on that journey alongside some of the leading developers and fund managers in the renewables industry.” 

Aleksi Nordlund, director power markets at Taaleri Energia said “We are pleased to have finalized this offtake agreement with Centrica, with whom we've maintained a strong partnership for an extended period. It's encouraging to witness Centrica's expansion into new markets and their ability to provide tehri assistance. This offtake agreement aligns with our renewable energy investments, which we believe are crucial for achieving global climate targets.”

The agreement marks Centrica Energy’s first renewable power purchase agreement secured in Lithuania, and closely follows its first agreement in Estonia. It brings Centrica’s portfolio of wind and solar assets under management in the Baltic states to a total of 168MW.

Following its ambitious commercial strategy to expand the business across new borders and deliver on green growth ambitions, Centrica is working to support the application of merchant-based instruments and manage risks, ultimately enabling long-term returns for investors who are bringing new green electricity into the grid.

Whilst the majority of Lithuania’s domestic power generation is based on renewable energies, the country remains dependent on energy imports to cover approximately three-quarters of the domestic demand for energy. With ambitious national targets calling for an increase in the share of renewable electricity consumption to 45% by 2030, Lithuania is a market that presents significant potential for the buildout, management, and optimisation of new renewable generation.


About Centrica Energy

Centrica Energy is the trading and optimisation arm of Centrica plc, operating out of eight offices across all time zones to move energy from source to use. We are a leading provider of energy management and optimisation services to business, in addition to managing commodity risk and providing wholesale market access for the Centrica group. We have 16 GW of capacity under contract in Europe of which approximately 80% is renewable assets.  Our mission is to drive the green transition while offering sustainable and predictable energy costs for suppliers and offtakers. In short, we call ourselves energy movers by nature.

About Taaleri Energia

Taaleri Energia is a renewable energy project developer and fund manager. Our team of 45 people is one of Europe's largest and most talented renewable energy investment teams. The team is currently investing in its sixth renewable energy fund, the Taaleri SolarWind III fund. Taaleri Energia manages 4.9 GW of development, construction, and operational phase wind, solar, and energy storage portfolios in Europe, the USA, and the Middle East.

Taaleri Energia is ranked by Preqin as one of the most consistent top performing infrastructure fund managers. Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.

About Lords LB Asset Management

Lords LB Asset Management is a premier provider of investment management services to institutional clients and high net worth individuals. Established in 2008, Lords LB Asset Management focuses on real estate, renewable energy and private equity investment strategies. The company currently manages 20 investment vehicles. The total value of assets managed by the collective investment undertakings reached EUR 1.08 billion at the end of December 2024.

Closed-end investment company Atsinaujinančios Energetikos Investicijos has a regional focus on the Baltic States and Poland. The company manages over 1.3 GW of solar PV and wind projects in operational, construction and development stages.