Ignitis Grupe acquires 300 MW Lithuanian onshore wind project development
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
AB Ignitis grupe has informed that on 30 October its subsidiary UAB Ignitis renewables completed the acquisition of 100% of the shares in two companies developing an onshore wind farm in the Kelme 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 – Kelme WF I (105.4 MW) and Kelme 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 €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. 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.
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Read the article online at: https://www.energyglobal.com/wind/01112023/ignitis-grup-acquires-300-mw-lithuanian-onshore-wind-project-development/
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