Ignitis grupe's subsidiary UAB, Ignitis renewables, has recently signed a conditional sale and purchase agreement with E energija, for the acquisition of 100% of the shares in its two companies developing an onshore wind farm in the Kelme 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 €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 4Q23. This acquisition is a significant step towards the Group’s objective to increase the green generation capacity four times, from the current 1.2 GW to 4 – 5 GW by 2030.