TARK advised Justkull on the sale of 100% shares in Solarpark Kuusalu OÜ to Elektrum Eesti, as a result of which Latvenergo´s group company Elektrum Eesti became the sole owner of Solarpark Kuusalu spreading over 22 hectares in Kuusalu municipality.
The Kuusalu solar park generates electricity with nearly 27,000 south-facing bi-facial panels with a total capacity of 17.4 MWp. The park’s annual solar electricity output to the grid is approximately 17 GWh.
Agnes Makk, Chairman of the Management Board of Elektrum Eesti, confirmed that Elektrum continues to expand solar and wind energy production opportunities in Estonia by purchasing already operating or under-construction plants and planning new energy parks.
According to the representative and owner of the seller, Erko Kundla, the development of the solar park has been a difficult and at the same time an exciting challenge.
TARK advised the client on matters related to the legal due diligence, drafting of the share purchase agreement and in negotiations with the seller and the bank that financed the construction of the solar park, as well as regarding completion of the transaction.
TARK’s transaction team included partners Hannes Küün, Marit Savi and also our lawyer Tarvi Salu. We are happy to support and help innovative and ecofriendly businesses.
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