Ignitis Renewables signed an agreement to acquire a wind farm project in Kelmė district

Ignitis Renewables, an international green energy company that aims to increase clean energy generation capacity and implement new projects in Lithuania, has signed a conditional sale and purchase agreement with E energija for the acquisition of 100% of the shares in its two companies developing an onshore wind farm in Kelmė district.

“This is another important step in expanding our portfolio of wind farm projects in Lithuania and increasing our green generation capacity. We are moving rapidly towards the strategic goal of the entire Ignitis Group to increase green generation and reach 4–5 GW of installed capacity by 2030,” says Thierry Aelens, CEO at Ignitis Renewables.

The first phase of the wind farm has already reached the construction stage, and the capacity of the wind farm in Kelmė district should reach up to 300 MW while electricity generation should start in 2025. Expected investments, including the acquisition price and construction costs, should reach around EUR 550 million. The project will be developed in two phases and Ignitis Renewables will oversee the construction of the wind farm after the transaction is closed.

The wind farm is expected to generate enough clean energy to power around 250,000 households in Lithuania.

According to the CEO of Ignitis Renewables, wind is an inexhaustible resource that enables the production of clean energy, which contributes to reducing the air pollution and slowing down the climate change. Wind farms also contribute to the country’s energy security and reduce fossil fuel imports.

"We started the wind farm project in Kelmė more than 5 years ago and we are proud that in the hands of Ignitis Renewables one of the largest wind projects currently under construction in Lithuania will make a significant contribution to Lithuania's quest for energy independence," says Gediminas Uloza, CEO of E energija group, which develops and builds wind, solar, and hybrid wind farms in Lithuania and in neighbouring countries.

Lithuania, which is implementing its National Energy Independence Strategy, has an ambitious target of covering 100% of the country’s electricity needs using renewable sources. Wind energy is therefore playing an increasingly important role, and, in the long term, wind farms are expected to cover more than half of Lithuania’s electricity needs.

Ignitis Renewables operates in the three Baltic states and Poland. It is responsible for onshore and offshore wind, solar, biomass and waste-to-energy projects. Ignitis Renewables currently operates five wind farms in Lithuania: in Jurbarkas, Kretinga, Tauragė, and Mažeikiai. It also operates one wind farm in Poland and another one in Estonia.