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 Northwest of Lithuania, Plungė region.

The potential capacity of acquired wind farm is up to 218 MW.

The project is currently at early development stage with environmental impact assessment procedures undergoing. The project’s estimated COD is expected around 2026-2030.

Total preliminary investments, including the acquisition price and the construction cost, amount to around EUR 300 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 (link). With this acquisition, total Ignitis Group’s portfolio of green generation projects in operations, construction and development amounts to around 4.8 GW.