Ignitis Renewables, announces the acquisition of a 218MW wind farm under development in the Plunge region of Lithuania.
A major acquisition
For Ignitis Renewables, this acquisition represents a total investment of €300 million. The project is expected to be delivered around 2026-2030. Thus, the international green energy company Ignitis Renewables has signed an agreement to acquire 100% of the shares of the company developing this project.
The wind farm would have a production capacity of 218MW. Ignitis Renewables is a subsidiary of the Ignitis Group. It manages renewable energy projects in the Baltic States and Poland.
It is thus responsible for the efficient operation of the wind farms. The company also manages the supervision of parks under construction and the development of new parks. Currently, this wind farm project in Lithuania is at an early stage of development.
A transaction in the process of being finalized
The total preliminary investment, including acquisition price and construction cost, amounts to approximately €300 million. The completed wind farm will operate at market conditions. Thus, the company is developing new wind and solar energy projects in Lithuania.
Ignitis Renewables is implementing the group’s strategic objective of increasing its Green Generation portfolio. Indeed, this acquisition is a significant step towards the Ignitis Group’s goal. The group aims to reach 4GW of installed green energy generation capacity by 2030.
With this acquisition, the group brings its total portfolio of green generation projects in operation, construction and development to approximately 4.8GW. Ignitis Renewables is expected to close the transaction for the acquisition of this wind project in the next few days. Indeed, environmental impact assessment procedures are still underway.
