Estonian energy project developer Evecon, through its Lithuanian subsidiary UAB Evecon, has sold a ready-to-build hybrid renewable energy project in Lithuania’s Marijampolė region to renewable energy developer Energix Renewable Energies for €25.4 million (~$28 million).

The project includes development rights for an approximately 220 MW wind, a 60 MW solar, and an energy storage facility with a capacity of approximately 286 MWh. The wind, solar, and energy storage facilities are located close together at the same site.

Energix Renewable Energies, a renewable energy company listed on the Tel Aviv Stock Exchange, signed a sale and purchase agreement with Evecon in August of this year. The transaction closed in September after the conditions precedent were met.

Karl-Joonatan Kvell, CEO of Evecon, said he was pleased that a strong investor has been found and Energix can now take this hybrid project from paper into reality. “Although Evecon has also built energy projects to completion together with partners, we are first and foremost a development company. This means that selling some projects is a natural part of our strategy. Given how capital-intensive energy projects are, selling the Marijampolė project is a logical next step alongside our previous projects in Estonia, Latvia and Lithuania,” Kvell said.

Energix paid €7.7 million (~$9 million) upon completion of the transaction. The remaining €17.7 million (~$20 million) will be paid after agreed milestones related to the preparation and approval of technical working designs are achieved. The designs will be prepared based on equipment selected by the investor. Evecon is currently leading the technical design work.

According to the release, Energix has secured the wind turbines required for the project, with deliveries expected to begin in July 2027. Energix estimates the project will require approximately €400 million (~$449 million) in construction costs and plans to begin commercial operations by the end of 2027.

According to Mercom’s 1H and Q2 2026 Solar Funding and M&A report, approximately 25.2 GW of solar projects were acquired in the first half of 2026, compared to 19.9 GW in the first half of 2025.

In October 2026, Vena Energy, an independent solar power producer, signed agreements with Norfund, the Norwegian Investment Fund for Developing Countries, and Impact Fund Denmark to sell a combined 49% equity stake in its 500 MW Ixus Bugallon solar project in Bugallon, Pangasinan, Philippines.