A new agreement will see Ignitis Renewables acquire 100% of the shares of the company developing the 137MW Silesia 2 onshore wind farm in Poland.
The project is currently at an advanced stage of development with an estimated COD in second half of 2024.
The turbines at the new wind farm will be provided by international wind farm manufacturer Nordex, a long-term partner of Ignitis Renewables.
Total preliminary investments, including the acquisition price and the construction cost, amount to around €240m. The completed wind farm will operate under market conditions.
On top of that, Silesia 2 is in the vicinity of Silesia 1, another under construction wind farm project of Ignitis Renewables, which enables synergies between projects.
The closing of the transaction is expected to take place over the next several days.
The acquisition is a significant step forward towards the Ignitis Group‘s objective to reach 4GW of installed green generation capacity by 2030 as set out in the strategy.
Ignitis Group is already operating 1.2GW portfolio of green generation and has renewable projects pipeline of around 2.5GW, including Silesia 2.
“Silesia 2 will help us improve our position in the neighbouring markets even further and bring us even closer to the target set in the Ignitis Group’s strategy of reaching 4GW installed green generation capacity by 2030,” said CEO of Ignitis Renewables Thierry Aelens.
“I am grateful to our Lithuanian and Polish colleagues for concluding yet another transaction which is significant to the entire Group.”