Ignitis Group Aims for Major Offshore Wind Capacity Expansion

Ignitis Group Pursues Expansion in Offshore Wind Energy

AB “Ignitis grup?”, widely known as Ignitis Group, has announced its ambitious plans to participate in the Lithuanian offshore wind tender, aiming to develop at least 700 MW of offshore wind capacity in the Baltic Sea. This electrifying initiative showcases the Group's commitment to sustainable energy and innovation in wind technology through its subsidiary, UAB “Ignitis renewables projektai 5”, entirely owned by UAB “Ignitis renewables”.

Tender Details and Support Mechanisms

The tender allows developers to either submit a development fee or apply for state support via a two-way contract for difference. The financial support range varies between 75.45 EUR/MWh and 125.74 EUR/MWh, which can be partially indexed until the generation permit is obtained, up to a maximum of eight years following the receipt of development and operation permits. This relaunch on June 9, along with its continuation until October 7, heralds a new era for wind energy in the region.

Announcement Timing and Expectations

The final decision regarding the tender winner is anticipated to be released by the National Energy Regulatory Council towards the end of the year, as the council oversees the entire bidding process. This anticipation is generating considerable excitement within the energy sector, as successful bidders will significantly contribute to the renewable energy landscape.

Strategic Goals for Green Energy Capacity

Ignitis Group has set forth a strategic vision to quadruple its green energy capacities from 1.4 GW to between 4 and 5 GW by 2030. Currently, the installed green capacities stand at 2.1 GW, highlighting the Group's ongoing growth and dedication to meeting its sustainability goals. This ambitious pledge aligns with the global push for renewable energy and positions Ignitis as a key player in the energy transition.

Future Steps and Partner Selection

Should Ignitis Group succeed in winning this tender, the focus will shift towards partnering with suitable organizations for project execution. This step is crucial as it reflects the Group's strategy of collaboration in harnessing innovative solutions for energy generation.

Financial Implications

It’s important to note that the information outlined in this announcement will not impact the Group’s Adjusted EBITDA and Investments guidance. As Ignitis navigates through this tender process, stakeholders can expect transparency regarding the outcomes and future communications only in the event of a successful bid.

Contact Information for Inquiries

For further inquiries, Ignitis Group's communications are open, and they encourage reaching out.

Communications
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt

Investor Relations
Ain? Riffel-Grinkevi?ien?
+370 643 14925
aine.riffel-grinkeviciene@ignitis.lt

Frequently Asked Questions

What is the focus of the Ignitis Group's recent tender?

The Ignitis Group is focusing on participating in the Lithuanian offshore wind tender to develop at least 700 MW of offshore wind capacity.

What financial support is available through the tender?

Potential developers can choose from a range of financial support between 75.45 EUR/MWh and 125.74 EUR/MWh through a two-way contract for difference.

When is the deadline for the tender submissions?

The tender submissions are open until October 7, which extends the opportunity for developers to participate.

How will Ignitis Group expand its green energy capacity?

The Group plans to increase its green energy capacity from 1.4 GW to 4-5 GW by 2030, emphasizing its growth in renewable energy.

Who can be contacted for more information?

Inquiries can be directed to Valdas Lopeta for communications or Ain? Riffel-Grinkevi?ien? for investor relations at the provided contact numbers and emails.

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