Ignitis Group Commits to 174 MW Tume Solar Project
Ignitis Group Moves Forward with Tume Solar Farm Investment
AB “Ignitis grup?”, commonly referred to as the Group, has officially announced its final investment decision regarding the construction of a 174 MW solar farm. This project, undertaken by the Group’s subsidiary UAB “Ignitis renewables”, marks a significant milestone in expanding renewable energy capacity.
Project Overview and Details
The Tume solar farm will be located in the Tukums municipality of Latvia, specifically in Tume parish. Once completed, the farm will contribute a substantial 174 MW to the region’s energy mix. This initiative is a step towards achieving the Group's ambitious sustainability goals.
Construction Phase Timeline
With the investment decision finalized, the project is slated to enter the construction phase soon. Construction activities are projected to commence in 2024, with the solar farm expected to begin operations in 2026. The total investment for this initiative is estimated to reach up to EUR 106 million, underscoring the Group's commitment to renewable energy.
Expansion of Green Energy Capacity
The Group has set a noteworthy objective to increase its green energy capacities significantly, with plans to expand from the current 1.3 GW in 2023 to an impressive 4–5 GW by 2030. This strategic growth reflects the Group's focus on sustainability and commitment to combating climate change.
Impact on Financial Guidance
It is important to note that the announcement regarding the Tume solar farm will not impact the Group’s adjusted EBITDA and investment guidance for 2024. This provides reassurance to investors and stakeholders about the integrity of the Group's financial projections.
Contact Information for Inquiries
For further insights or questions regarding the project, please reach out to:
Paulius Kalmantas
Communications Partner at Ignitis Renewables
Phone: +370 617 51616
Email: paulius.kalmantas@ignitis.lt
Frequently Asked Questions
What is the capacity of the Tume solar farm?
The Tume solar farm is designed to have a capacity of 174 MW.
When is construction expected to start?
Construction is anticipated to begin in 2024.
What is the total investment for the project?
The total investment for the Tume solar farm is estimated to be up to EUR 106 million.
What are the Group's future energy capacity goals?
The Group aims to increase its green energy capacity to 4–5 GW by 2030.
How can I contact Ignitis Renewables for more information?
You can contact Paulius Kalmantas at Ignitis Renewables via phone at +370 617 51616 or email at paulius.kalmantas@ignitis.lt.
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