On the Acquiring a Wind Farm Project in Poland

Source: www.gulfoilandgas.com 12/21/2021, Location: Europe

AB “Ignitis grupe” (hereinafter – the Group) informs that on 21 December 2021 its Management Board approved the conclusion of the shares purchase agreement (hereinafter – the Agreement) whereby its subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) acquired 100% of the shares of the Polish company developing a wind farm in Poland.

The total capacity of the wind farm under development in Poland is 50 MW. The project is currently in an advanced stage of development with construction permits obtained and contract for difference (CfD) tariff of 237.5 PLN/MWh (around 51 EUR/MWh) awarded in the Polish renewable energy auction, its estimated commercial operations date is around 2023.

The conclusion of the Agreement is foreseen in the upcoming few days and will not be communicated separately. Total preliminary investments, including the acquisition and construction price, amount to EUR 70 million. It must be noted that an envisaged total return on equity of the acquired project is in line with the Group’s target return on equity range for such projects, which is high single digit to low double digit.

The Group reminds that the objective to consistently increase Green Generation portfolio and reach 4 GW of installed Green Generation capacity by 2030 is set out in the strategy (link). Respectively, implementation of the agreements contributes to the implementation of strategic objectives.


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