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TGS Baltic represented BaltCap Infrastructure Fund (BInF) that signed an engineering, procurement and construction (EPC) contract with Axis Technologies for developing a BInF-financed project – a biomass plant in Vilnius, near Gariūnai.
EPC agreement, worth EUR 16 million, states that the biomass plant should be built and become operational by the beginning of 2019. According to the estimates, this power plant will generate nearly 10% of Vilnius heat demand.
BaltCap is the largest buy-out, growth capital and private equity infrastructure investor in the Baltic States. In July 2017, BaltCap launched BaltCap Infrastructure Fund (BInF) with the planned size of €100 million. The fund will invest in infrastructure development across Lithuania, Latvia, and Estonia.
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