Ignitis Group completes acquisition of up to 300 MW onshore wind development project in Lithuania

AB “Ignitis grupė” (hereinafter – the Group) informs that on 30 October its subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) completed the acquisition of 100% of the shares in two companies developing an onshore wind farm in the Kelmė district owned UAB “E energija”.

The wind farm’s targeted total capacity is up to 300 MW. The portfolio is made up of 2 projects – Kelmė WF I (105.4 MW) and Kelmė WF II (194.6 MW). The commercial operations date of the project is estimated for 2025. The completed project will operate under market conditions.

The expected investments, including the acquisition price and construction costs, should reach around EUR 550 million. The expected project’s return is in line with the Group’s target return range.

The Group announced the signing of a conditional sale and purchase agreement on 27 June 2023 (link). The information provided in this notification does not change the Group’s Adjusted EBITDA guidance.

This acquisition is a significant step towards the Group’s objective to increase the Green Generation capacity 4 times from the 1.2 GW in 2022 to 4–5 GW by 2030. For further details, see the Group’s strategy (link).

For more information, please contact:

Paulius Kalmantas

Communications Partner at Ignitis Renewables

Phone: [phone]

Email: [e-mail]