Ignitis Group makes final investment decision for 174 MW Tume solar farm in Latvia

AB “Ignitis grupė” (hereinafter – the Group) informs that after the approval of the Group’s Management Board, on 3 September the Group’s subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) made a final investment decision on its 174 MW Tume solar farm (hereinafter – the Project). 

The Project is located in Tukums municipality, Tume parish, in Latvia. The targeted total capacity of the Projects will reach 174 MW. 

Following this announcement, the Project will enter the construction phase with the construction works estimated to start in 2024 and COD in 2026. The total investment amount is up to EUR 106 million. 

The Group notes that the objective of the Group is to increase its Green Capacities 4 times, from 1.3 GW in 2023 to 4–5 GW by 2030. For further details, see the Group’s strategy (link). 

The information provided in this notification does not affect the Group’s 2024 Adjusted EBITDA and Investment guidance. 

For more information, please contact:
Paulius Kalmantas
Communications Partner at Ignitis Renewables
Phone: [phone]
Email: [e-mail]