Polebergia has the consent of UOKiK to establish a joint venture with Modus

The President of the Office of Competition and Consumer Protection (UOKiK) has approved the concentration consisting in the creation of a joint venture by Polenergia and Modus, Polenergia reported.

"The planned activities of the new entity will be related to the development of wind farm projects in the Baltic Sea in the region of the Lithuanian territorial sea or the exclusive economic zone of the Republic of Lithuania, to the extent specified in the investment agreement," reads the release.

Polenergia is a Polish company listed on the Warsaw Stock Exchange, acting as a holding company for its operating subsidiaries operating in the field of generating energy from conventional and renewable sources as well as distribution and trading of electricity. The Polenergia Group is jointly controlled by Dominika Kulczyk and Brookfield Asset Management Inc. based in Canada.

Modus is a Lithuanian company operating in the renewable energy sector that invests and develops biogas projects, as well as large-scale solar and B2B projects in Lithuania, as well as through subsidiaries in Italy, Spain, Ukraine, Belarus, Romania and Poland. Modus belongs to the Modus group controlled by Kestutis Martinkenas, which brings together companies from different countries, which focuses its activities mainly in the area of ​​renewable energy, mobility services, intelligent parking solutions and the automotive industry.

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