LONDON, UK: Ignitis Group through its subsidiary Ignitis Renewables signed an agreement to acquire 100% of shares of the company developing an onshore wind farm in Poland.

The total capacity of the wind farm (Silesia 2) is up to 137 MW. The project is currently at an advanced stage of development with an estimated COD in H2 2024.

The turbines at the new wind farm will be provided by a long-term partner of Ignitis Renewables, an international wind farm manufacturer Nordex. Total preliminary investments, including the acquisition price and the construction cost, amount to around EUR 240 million. The completed wind farm will operate under market conditions.

The closing of the transaction is expected to take place over the next several days, no separate announcement will be made. The acquisition is a significant step forward towards the Ignitis Group‘s objective to reach 4 GW of installed Green Generation capacity by 2030 as set out in the strategy.