Ignitis Group allocates EUR 4 million to strengthen Ukraine’s energy sector
In response to the growing challenges facing Ukraine’s energy sector due to the continuing Russian attacks, Ignitis Group has allocated a targeted contribution of EUR 4 million to Lithuania’s Development Cooperation and Humanitarian Aid Fund. The funds will be directed to priority projects aimed at restoring Ukraine’s energy infrastructure and increasing its resilience.
“At the very beginning of the war, the General Meeting of Shareholders of Ignitis Group approved a special commitment of EUR 12 million in aid for the restoration and reconstruction of Ukraine’s energy infrastructure. Over the past few years, we have already used part of this commitment to meet Ukraine’s needs by transferring no longer used assets from the Group’s companies and by providing humanitarian aid through international organisations. The remaining part of this commitment – EUR 4 million – has been allocated to development cooperation initiatives and will provide particularly meaningful support to Ukraine in the highly sensitive area of energy stability,” says Darius Maikštėnas, CEO of Ignitis Group.
This decision is being implemented in close cooperation with the Ministries of Finance, Foreign Affairs and Energy of the Republic of Lithuania in order to ensure more effective involvement of state-owned enterprises in Ukraine’s recovery and reconstruction processes. The support also contributes to the implementation of Lithuania’s development cooperation policy objectives.
It is expected that Ignitis Group’s targeted contribution will be used to continue the ongoing programme “Support to Ukraine’s energy sector through the installation of solar power plants”. The Government of Lithuania has already allocated EUR 5 million to this programme, and its implementation is progressing successfully: solar power plants are being installed in schools and hospitals across Ukraine, strengthening decentralised energy generation capacity.
Over the past few years, Ignitis Group has already allocated around EUR 8 million for the restoration and reconstruction of Ukraine’s energy infrastructure from the special EUR 12 million aid commitment approved by the General Meeting of Shareholders. Through the Energy Community Secretariat, Ignitis Group provided humanitarian aid to Ukraine worth several million euros, which was used to restore and reconstruct Ukraine’s energy infrastructure under wartime conditions. In addition, Ignitis Gamyba, ESO and Ignitis provided humanitarian aid in the form of movable assets no longer in use, including transformers, generators, cables and other equipment necessary for the electricity grid. Ignitis Gamyba also transferred to Ukraine the equipment of Vilnius Third Combined Heat and Power Plant (Vilnius CHP 3), which helps restore Ukraine’s destroyed energy infrastructure.
Lithuania’s Development Cooperation and Humanitarian Aid Fund, which operates as a state financial mechanism, ensures transparent, centralised and efficient administration of funds. Decisions on the use of funds are taken by the Fund’s Board, thereby ensuring accountability and the protection of state interests. The solar power plant programme in Ukraine is being implemented by the Central Project Management Agency, a public institution that ensures transparency, quality and efficient implementation of the projects.
