Ecology, Energy, Energy Market, EU – Baltic States, Good for Business, Investments, Lithuania

Ignitis Groug now is building a 94 MW wind farm in Poland’s Pomerania region. The launch of the park’s commercial activity is expected in 2021. Last November, this wind farm project participated in Poland‘s auction for renewable energy projects and won a 15-year guaranteed tariff.

But a 50 MW wind project of Wento, which also took part in this auction didn‘t win a guaranteed tariff. Ignitis Group terminated a conditional share sale-purchase agreement with Wento because one of the preconditions was the award of the tariff. The agreement was terminated by mutual consent.

After the termination of this agreement Ignitis grupė continued negotiations regarding the development of the project but did not reach agreements that are satisfactory to both sides.

“It is very difficult to forecast the end of auctions therefore we included a precondition in the share-sale agreement - the award of the tariff. Although the deal won't be executed, Ignitis group successfully continues the implementation of its renewable energy strategy,” says Aleksandr Spiridonov, the CEO of Ignitis Renewables. 

Currently Ignitis Group owns five wind farms operating in Lithuania and Estonia with a combined capacity of 76 MW. The group is also planning to participate in Lithuania‘s renewable energy auction with a 60 MW wind farm project in Mažeikiai.

Ignitis Group‘s investment will amount to 6 bn euros by 2030, with a big share of this amount spent on green and smart energy.