Ignitis Group has completed the acquisition of a 300MW wind development portfolio in Lithuania.
Ignitis Group, through its subsidiary Ignitis Renewables, has acquired 100% of the shares in two companies developing the portfolio in the Kelmė district.
Both development vehicles were owned by E Energija.
The portfolio is made up of two projects, Kelmė WF 1 (105.4MW) and Kelmė WF 2 (194.6MW).
The commercial operations date for the 300MW is 2025.
The expected investments, including the acquisition price and construction costs, should reach around €550m.
Ignitis Group announced the signing of a conditional sale and purchase agreement on 27 June 2023 and the acquisition is a step towards the group’s objective to increase its clean energy generation capacity from 1.2GW in 2022 to 4GW to 5GW by 2030.