Company details
| Company code: | 304988904 |
| VAT identification number: | LT100012186012 |
| Head office: | Laisvės pr. 10, LT-04215 Vilnius, Lithuania |
| Correspondence address: | Laisvės pr. 10, LT-04215 Vilnius, Lithuania |
| Establishment date and register: | 14 January 2019, Lithuanian Register of Legal Entities |
| Bank account: | LT747300010157401012 |
| Bank: | Swedbank, AB |
| Shareholders: | AB „Ignitis grupė“ – 100% |
| Share capital: | 45,121,910 EUR |
Contact information
Company governance
UAB „Ignitis renewables”
Ignitis Renewables is an international green energy company operating in the Baltics and Poland. It focuses on developing green generation and green flexibility technologies. By developing onshore and offshore wind, solar, battery and power-to-X technologies, the company is implementing Ignitis Group’s strategic priority to deliver 4–5 GW of installed green capacities by 2030.
You find more information about Ignitis Renewables on the company’s website here.
Ignitis Group companies are fully committed to build a sustainable future. You can read more about the Group's sustainability activities in the 2025 Sustainability (Corporate Social Responsibility) Report, which is part of the Group's annual report.
Ignitis Group Code of Ethics is based on the values of our organisation and defines the principles of ethical conduct for the Group's companies and employees. Our Code of Ethics can be found here.
How Ignitis Renewables handles personal data can be found here.
| Performance, EURm | Consolidated2 | Standalone |
|---|---|---|
| Revenue | 140.0 | 26.4 |
| Expenses | (103.4) | (76.7) |
| Adjusted EBITDA | 36.6 | (54.6) |
| Net profit | (44.2) | (62.5) |
| Investments | 240.3 | (173.5) |
| Assets | 1,888.7 | 1,479.8 |
| Equity | 262.9 | 200.8 |
| Liabilities | 1,625.7 | 1,279.0 |
| Number of employees | 334 | 193 |
Company details
| Company code: | 304988904 |
| VAT identification number: | LT100012186012 |
| Head office: | Laisvės pr. 10, LT-04215 Vilnius, Lithuania |
| Correspondence address: | Laisvės pr. 10, LT-04215 Vilnius, Lithuania |
| Establishment date and register: | 14 January 2019, Lithuanian Register of Legal Entities |
| Bank account: | LT747300010157401012 |
| Bank: | Swedbank, AB |
| Shareholders: | AB „Ignitis grupė“ – 100% |
| Share capital: | 45,121,910 EUR |
Contact information
Company governance
CEO
Frank Oomen
Chief Executive Officer
Frank Oomen started his 5-year term as CEO of Ignitis Renewables on 1 September 2025. He is an experienced executive in the renewable energy sector with over 15 years’ experience in senior leadership positions...
Board
Jonas Rimavičius
Chair of the Board, shareholder representative
Jonas Rimavičius is a Member of the Management Board of UAB “Ignitis renewables” and the Head of Group Finance and Investment at AB “Ignitis grupė”...
Peter Overgaard
Board Member, independent
Peter Overgaard gained his experience by managing roles in various companies focused on developing green energy, such as DONG (now Ørsted) and Siemens Gamesa...
Vytenis Koryzna
Board member, shareholder representative
Vytenis Koryzna has more than ten years of experience in the area of renewable energy and strategic leadership, as well as in the development of business models...
Executive Committee
Augustas Dragūnas
CFO
Augustas Dragūnas is a financial executive with more than 20 years of experience, including more than 10 years...
Gary Bills
COO
Gary Bills is a C-Level executive with a distinguished track record of more than 20 years driving business growth in the renewable energy sector
Laurynas Jocys
CCO
Laurynas Jocys is an experienced executive with a background in economics and finance and over 20 years’ managerial experience...
Michael Cameron
Head of O&M and Technical Asset Management
Michael Cameron has served as Head of Operations and Maintenance and Technical Asset Management at Ignitis Renewables since 2024.
Documents and reports
Annual Reports
Remuneration
In accordance with applicable regulations and personal data protection principles, average salary data will not be disclosed if a company or a job category has only one employee.
Performance objectives for variable remuneration
Performance objectives applicable for the parent company’s CEO and members of the Management Board (and other managers according to the Remunaration policy) to support achievement of the Group’s annual targets.
Profile of Board’s competences
Funds spent on publicity
Link to the report in VIRSIS
Not all companies that are preparing/disseminating public information are registered in VIRSIS, therefore, the company will additionally provide information on the funds allocated for publishing its activities on its website.
Our purpose, strategy, priorities and targets
Integrated business model
Ignitis Group is a leading integrated energy group in the Baltic region. We lead the regional energy transition to strengthen competitiveness and support economic growth.
Ignitis Group is active in the Baltic states, Poland and Finland. Our integrated business model enables synergies and new business models, supported by our strong position in the Baltics - benefiting from the largest network, energy storage capacity, and customer portfolio in the Baltics.
We are utilising our integrated business model to maximise value:
UAB “Ignitis renewables”, a part of the Green Capacities segment, plays a significant role in the integrated business model and strategy of Ignitis Group. The company's position within the Group’s structure is available here. More information about the integrated business model and strategic priorities of the company as well as targets by its business segments is available here.
Our purpose and strategy
Our purpose is to create a 100% secure and green energy ecosystem for current and future generations. We lead the regional energy transition to strengthen competitiveness and support economic growth. By securing local, reliable energy, we strengthen regional competitiveness and economic growth, support household well‑being, enhance business competitiveness, and attract energy‑intensive industries. More information about the Group’s purpose and purpose-driven priorities is available here.
UAB “Ignitis renewables“ significantly contributes to the execution of the Group's strategy, is an integral part of the organisation and follows the Group’s strategy and stategic plan in its activities.
Strategic priorities and targets of the company
Our mindsets
We are a diverse team of energy smart people united by a common purpose. Four mindsets – simple yet powerful. United by purpose. Owning the challenge. Passion for reinvention. Pursuing excellence. Together, they yield the energy that drives everything we do. The energy generated by our choices. Our actions. Our unity.
Anti‑corruption
The company follows the Ignitis Group Anti‑corruption policy, Group Code of Ethics and Conduct, and business ethics principles. We operate responsibly and transparently – we do not tolerate any form of corruption and promote fair business practices and open communication with stakeholders. We provide secure reporting channels through the Trust line, which enables anonymous and confidential reporting of potential misconduct by employees or business partners.