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International Internet Magazine. Baltic States news & analytics Saturday, 15.08.2020, 11:35

Ignitis to invest EUR 950 mln in green energy in Baltics, Poland

BC, Vilnius, 28.07.2020.Print version
Ignitis, a Lithuanian energy group active in the Baltic countries and Poland, is planning to invest up to 950 million euros in increasing its green energy capacities by the year 2023, informs LETA/BNS.

A strategy document of Ignitis Group calls for an increase in green energy capacity from the present 1.1 gigawatts to 1.6-1.8 gigawatts by 2023, Ignitis announced on Tuesday.

According to the updated long-term strategy, the company will raise its generating capacity based on resources of renewable energy to 4 gigawatts by 2030. 

The investments will be made in wind, solar, hydro, waste and biomass powered plants and other green energy solutions in Estonia, Latvia, Lithuania and Poland.

Ignitis' renewable energy capacity in Estonia amounted to 0.7 gigawatts is 2019 and is expected to rise to 1.9 gigawatts by 2030.

The new strategy also calls for achieving carbon neutrality by 2050, which is consistent with the goals set by the UN.

Ignitis is a Baltic energy group whose companies are active in the generation, distribution and sale of energy and development of energy solutions. The company owns two hydroelectric power plants in Lithuania, four wind farms in Lithuania and Estonia and a biomass fueled station in Lithuania.  

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