Ignitis Renewables has signed an agreement to acquire 100% of the shares of a company developing an onshore wind farm in Lithuania.
The wind farm will be situated in Plunge region in northwest Lithuania, with a total installed capacity of up to 218MW and a total expected investment of around €300 million.
The project is at an early development stage. The company developing the wind park has already started the environmental impact assessment of the project.
It is planned that commercial operations could start between 2026 and 2030.
With this project, Ignitis Group’s portfolio of green generation projects in operations, construction and development reaches 4.8GW, of which 1.2GW is in operation and 3.5GW is under construction or development.
Out of total pipeline under construction and development, around 2.2GW is in Lithuania.
The acquisition was approved by Ignitis Group’s management board.
“With this transaction, we are strengthening our presence in the domestic market in Lithuania and expanding our green generation capacity, accelerating our progress towards the Group’s ultimate goal of achieving 4GW of installed green generation capacity by 2030,” said Ignitis Renewables CEO Thierry Aelens.