Lithuanian energy holding company Lietuvos Energija has completed the acquisition of a 34 megawatts (MW) wind portfolio in Lithuania from wind farm operator Stemma Group.

Lietuvos Energija announced that it has completed the two sale-purchase agreements to buy Stemma Group’s shareholding in UAB Vejo Vatas and UAB Vejo Gusis for the total sum of 21.76 million euros ($25 million).

Lietuvos Energija said that the goal of the transaction was to expand and diversify the company’s activities.

Upon completion of the transaction, Lietuvos Energija estimates that it is now the second largest wind power producer in the Baltic States, accountable for 9 percent of the total market’s generation.