Ignitis Group Secures Major Financing for Solar Projects
Ignitis Group Secures Significant Financing for Solar Initiatives
AB “Ignitis grup?” has announced that its subsidiary, SP Venta SIA, has successfully finalized a financing agreement worth EUR 77.5 million with Swedbank. This loan aims to support the development of the Stelpe solar farm and the V?rme solar farm, boasting a combined capacity of 239 MW. With these projects, Ignitis Group continues its commitment to expand its portfolio in renewable energy.
Details of the Financing Agreement
The financing is being shared equally by two creditors over a term of 15 years, a standard term for this type of financing arrangement. This agreement highlights the growing importance of sustainable energy sources in the financial sector and showcases the trust that banks place in companies focusing on green initiatives.
Impact of the Solar Farms
The V?rme solar farm, with a capacity of 94 MW, is situated in Kuld?ga municipality, while the Stelpe solar farm, which has a capacity of 145 MW, is constructed across two sites in the Bauska municipality. Together, these solar farms are expected to generate enough energy to power around 96 thousand households, reflecting a significant step forward for renewable energy in the region.
Investment Scope and Future Goals
The total anticipated investment for both solar projects, including construction and acquisition costs, is estimated to be around EUR 178 million. This initiative falls in line with Ignitis Group's broader strategy to significantly enhance its green energy capacities, aiming to increase their output from 1.4 GW in 2024 to a staggering 4–5 GW by 2030. This ambitious target illustrates the company's dedication to leading the charge in the renewable energy sector.
Company Guidance and Profitability
It’s important to note that the information related to this financing agreement will not impact Ignitis Group's 2025 Adjusted EBITDA and investment guidance. This assurance adds a layer of stability and continues to inspire confidence among investors.
Contact Information for Further Inquiries
For those looking for more details about this financing agreement or other inquiries regarding the company, they can reach out directly to:
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt
Frequently Asked Questions
What is the amount of the financing provided by Swedbank?
The financing agreement with Swedbank is for EUR 77.5 million.
What is the purpose of the loan?
The loan is intended to support the development of the Stelpe and V?rme solar farms.
What is the total capacity of the solar farms?
The combined capacity of the Stelpe and V?rme solar farms is 239 MW.
How many households can the solar farms power?
These solar farms will be capable of powering approximately 96 thousand households.
What are Ignitis Group's future energy goals?
Ignitis Group aims to increase its green energy capacity from 1.4 GW in 2024 to 4–5 GW by 2030.
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