Ignitis Renewables has started constructing a 50MW wind farm in Lower Silesian Voivodeship, Poland.
The total investment will reach €70m and the wind farm is due to start generating electricity in Q4 2023, with an estimated production of 122GWh per year.
In Poland company already owns a 94MW wind farm in Pomerania (pictured) and is developing an 80MW solar power plant portfolio as well as 150MW greenfield projects.
Ignitis Renewables chief executive Thierry Aelens said: “The new wind farm in Poland will contribute to the Group’s Green Generation portfolio and will contribute to the reduction of electricity price in the region.
“It is important to note that the investments of Ignitis Renewables in other markets do not affect the electricity price in Lithuania, but generate profit, which returns to Lithuania in the form of dividends.”
He added that the estimated total return on equity of the project aligns with the return policy of the Group for such projects communicated previously, which is high single-digit, low double-digit.
The construction works of the new wind farm in south-western Poland, near the border with Czech Republic will be carried out by CJR Renewables.
This contractor also constructed the Pomerania wind farm, which launched at the end of last year.
It is one of the largest wind farms in Poland and first project of its kind for Ignitis Group in the country.
The wind farm located in Bakow will have 14 3.6MW wind turbines manufactured by Nordex.
The scope of the project’s schedule ranges over a year. CJR Renewables is currently constructing other wind farms in Peru, Columbia and Portugal.
CJR Renewables regional manager Bartosz Sobolewski said: “With this project, we are strengthening our position in Poland and contributing to Ignitis Group’s goal of delivering the best results from renewable energy projects.
“A relationship based on trust and commitment that spans many years can only be built by working together.”
Ignitis Renewables own four operational wind farms in Lithuania, one operational wind farm in Poland and one in Estonia.
The entire Green Generation portfolio of Ignitis Group, including operational assets, assets under development and under construction, amounts to 1.4GW.