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    Ignitis Group Acquires Wind Farm Project in Lithuania


    November 28, 2022 - Gulf Oil & Gas

     

      International green energy company Ignitis Renewables signed an agreement to acquire 100% of shares of the company developing an onshore wind farm in Lithuania. This decision was approved by Ignitis Group’s management board. The wind farm will be situated in Plunge region, Nothwest of Lithuania, with a total installed capacity of up to 218 MW, with total expected investment of around EUR 300 million.

      “With this transaction, we are strengthening our presence in the domestic market in Lithuania and expanding our green generation capacity, accelerating our progress towards the Group's ultimate goal of achieving 4 GW of installed green generation capacity by 2030” – says Thierry Aelens, CEO at Ignitis Renewables.

      The project is at an early development stage. The company, which is developing wind park, has already started the environmental impact assessment of the project. It is planned that commercial operations could start in a period of 2026-2030. With this project, Ignitis Group’s portfolio of green generation projects in operations, construction and development reaches 4.8 GW, of which 1.2 GW in operations and 3.5 GW – under construction or development. Out of total pipeline under construction and development, around 2.2 GW is in Lithuania.

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