Ignitis Group signs an agreement to acquire a hybrid power plant development project in Lithuania

AB “Ignitis grupė” (hereinafter – the Group) informs that on 12 March 2025 its subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) entered into an agreement to acquire 100% of the shares in UAB “Nord Wind Park”. 

Ignitis Renewables will acquire a hybrid power plant consisting of a 200 MW wind farm, a 50 MW solar farm, and a 20 MW (80 MWh) battery energy storage system in Pasvalys region, Lithuania (hereinafter – the Project). 

The Project is due to secure connection capacity to the grid and the Group is yet to finalize due diligence procedures. Based on the latter, further development decisions will be made. 

Closing of the agreement is expected within 1 week of this announcement, in case of a successful closing, no further communication will be made. 

Under the agreement, Ignitis Renewables has the right to apply restitution within 90 calendar days of closing if the conditions specified in the agreement occur within the stipulated period. 

The Group reminds that the objective of the Group is to increase its Green Capacities from 1.4 GW in 2024 to 4–5 GW by 2030. For further details, see the Group’s strategy (link). 

The information provided in this announcement does not affect the Group’s Adjusted EBITDA and Investments guidance for 2025. 

For more information, please contact: 

Communications
Marius Zelenius
+370 613 03633
marius.zelenius@ignitis.lt