27th Jun 2023 07:38
Ignitis Group signs an agreement to acquire up to 300 MW onshore wind development project in LithuaniaAB “Ignitis grupė” (hereinafter – the Group) informs that on 27 June 2023 its subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) has signed a conditional sale and purchase agreement with UAB “E energija” for the acquisition of 100% of the shares in its two companies developing an onshore wind farm in the Kelmė district.
The wind farm’s capacity is estimated to reach up to 300 MW. The first phase of the project has entered the construction stage and the second phase is in an advanced development stage. The commercial operations date of the project is estimated for 2025. The completed project will operate under market conditions. After the transaction is closed, Ignitis Renewables will manage the construction of the wind farm.
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 transaction is expected to be closed by Q4 2023. The potential acquisition 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 current 1.2 GW to 4–5 GW by 2030. For further details, see the Group’s strategy (link).
For more information, please contact:
Artūras KetleriusHead of Corporate Communications at Ignitis [email protected]+370 620 76076
Related Shares:
Ab Ignitis. S