Financial support

One of the ways to respond to the needs of the communities located near our operations is providing financial support for projects important to them. Green Generation development is one of the key directions of the Group’s strategy.

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Objectives of financial support

By following the good practice of other countries and private sector, we decided that financial support will only be able to be provided by the Group companies developing and maintaining renewables projects.

We provide financial support for community projects and initiatives in order to contribute to the development of community infrastructure, events and other initiatives. We hope that contribution to the creation of community welfare will help compensate any inconvenience experienced during the construction or operation of energy generation capacities.

In order to regulate cases of free-of-charge financial support, a unified financial support provision objectives, key criteria and principles were established, which are described in the Group Financial Support Policy.

Who is eligible for the financial support?

Financial support can be provided to only those communities (those community projects) that are located near under-construction or operating renewables (solar, wind) capacities owned by Ignitis Renewables and its subsidiaries.

Financial support can be granted to social, education, art, culture, science and sport (excluding extreme and high-risk sport) projects, activities. These projects and/or activities must create, encourage long-term cooperation between Ignitis Renewables, its subsidiaries and the community, also it must comply with the support granting criteria established in Financial Support Management Guidelines.  

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Call to apply

An invitation to submit applications to receive financial support has been announced. The deadline for submission of applications has not been set.

The applications received in 2021 will be evaluated in two stages by starting the evaluation of the applications received before:

a) 1 September 2021

b) 1 November 2021

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FAQ

What financial support does Ignitis Renewables provide?

Ignitis renewables and its subsidiaries grant financial support to the projects and initiatives of the communities that are located by the companies-owned plants of production of renewable resources (wind, solar) under development or that are already used.

What is financial support of Ignitis Renewables governed by?

The financial support is governed by the Law on Charity and Sponsorship of the Republic of Lithuania (hereinafter – LCS), foreign legal acts, Group Financial Support Policy, and the Rules for Management of Financial support of Ignitis Renewables and its subsidiaries.

Why does Ignitis Renewables grant financial support?

Following the good practice of other countries and private sector, the financial support to the communities’ projects and initiatives is granted in order to contribute to the projects on improvement of infrastructure important for the communities, events and other initiatives. It is expected that the contribution to creation of the communities’ welfare will help to compensate the experienced inconveniences in the course of construction or operation of the energy production plants.

Who can get financial support of Ignitis Renewables?

The communities that are located by the plants of production of renewable resources (wind, solar) owned by UAB “Ignitis renewables” and its subsidiaries (UAB “Eurakras“, UAB “Vėjo gūsis“, UAB “Vėjo vatas“, UAB “VVP Investment“, Pomerania Wind Farm sp. z o. o) that are under development or that are already used.

Only the legal entities satisfying LCS requirements, whose activities or projects satisfy the criteria of the Rules for Management of Financial support of Ignitis Renewables and its subsidiaries and requirements of the legal acts may apply for financial support

What can the financial support be used for?

The financial support is intended to improve the life quality of the communities: for social, educational, art, cultural, scientific and sport (save for extreme and increased-risk sport) projects and activities. These projects and/or activities have to form and induce long-term cooperation of UAB “Ignitis renewables“, its subsidiaries and the community, as well as to satisfy the criteria for financial support granting established in the Rules for Management of Financial support.

What cannot the financial support be granted or used for?

The financial support shall not be granted or used for the following:

  • to finance political parties, the State politicians, political advertising or political campaigns and to cover the debts of the participants of political campaigns that appeared in the course of the political campaigns or that are related to the political campaigns;
  • for the funds and institutions founded by the civil servants of political (personal) confidence, members of the Parliament of the Republic of Lithuania (Seimas), the Government, municipal councils, members of one-person or collegial management bodies of political parties, their close relatives, spouses, cohabitants and partners, when the partnership is registered according to the laws;
  • for extreme and increased-risk sport, activities that popularise and/or are related to gambling or similar plays, alcoholic drinks, tobacco or other intoxicating substances and/or other activities that have or could have negative impact on the society and/or its part.
What is the amount of available financial support?

The recommended maximal financial support to one applicant should not exceed EUR 10,000 in 1 calendar year. The exceptional cases of bigger financial support have to be reasoned in the decision of the Management Board of Ignitis Renewables.

Who and how will decide regarding financial support and its amount?

The received applications shall be assessed by the committee formed from the employees of the companies within Ignitis Group, and the financial support granting shall be approved by the Management Board of Ignitis Renewables. 

The assessment committee shall consist of at least 4 natural persons employed in the companies within Ignitis Group (save for Ignitis Renewables and its subsidiaries). The assessment committee shall ass the submitted applications within the competence limits established in the Rules for Management of Financial Support of Ignitis Renewables and its subsidiaries.

The exceptional cases of bigger financial support have to be reasoned in the decision of the Management Board of Ignitis Renewables.

From what funds is financial support granted?

The financial support is granted only from the profit gained by Ignitis Renewables and its subsidiaries. The meeting of shareholders of certain company decides on the amount attributable to financial support, in consideration to the profit and implemented projects of the accounting year.

How to get financial support?

In order to receive financial support, the communities have to fill in and submit the application available at https://ignitisgrupe.lt/en/call-submit-applications-receive-financial-support-2021

Other rules on financial support granting and use are available on the website https://ignitisgrupe.lt/en/financial-support; information may be also provided by e-mail: bendruomenes@ignitis.lt

Will it be necessary to account for the received financial support?

Yes, upon completion of the projects, the communities have to submit a report on their implementation. It is available in Annex No. 7 to the Rules for Management of Support of Ignitis Renewables and its Subsidiaries.

How will the financial support’s granting be made public?

Ignitis Renewables undertakes to announce the granted financial supports and their recipients on the website of Ignitis Group at www.ignitisgrupe.lt.

What is the term for applications?

The deadline for submission of applications is not set, i.e., the communities may submit the applications at any time convenient for them. It is planned to assess the collected applications in two stages in 2021 – in the beginning and in the end of autumn.  

What are the rules of financial support’s use?

All the rules on financial support granting and use are provided in the Rules for Management of Financial Support of Ignitis Renewables and its Subsidiaries.

Information may be also provided by e-mail: bendruomenes@ignitis.lt

Who consults on filling-in of applications and related issues?

If you have any questions or need some help, e-mail us to bendruomenes@ignitis.lt.

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Contacts
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If you have any questions or you need assistance, you are welcome to write us at bendruomenes@ignitis.lt