Vilnius CHP’s Management Board has been elected for a new term

Ignitis Group, a renewables-focused integrated utility, has elected the Management Board of Vilnius Combined Heat and Power Plant (Vilnius CHP) for a new term. Last Friday, two shareholder's representatives and one independent member have been appointed for a four-year term.

Paul K. Dainora, an executive with experience of over 20 years, has been appointed as an Independent Management Board Member. He continues to hold the position from the previous term.

20 candidates participated in the selection of an Independent Management Board Member. The selection was conducted with the help of an agency conducting manager and managing personnel recruitment J. Friisberg & Partners.

Mantas Mikalajūnas, Head of Group Regulated Activities and Management Board Member at Ignitis Group, and Jonas Rimavičius, CFO and Management Board Member at Ignitis Group, have been appointed as the representatives of the shareholders (Ignitis Group). Both representatives of the shareholder also worked in the previous Management Board.

P. K. Dainora studied mechanical engineering at Villanova University, USA, and has a master's in economy and finances from West Chester University, USA. Currently, he is working as the Head of Business Development Green Hydrogen at thyssenkrupp nucera AG & Co. KGaA. He gained experience while working in various energy companies in the USA, Canada, Germany, etc.

M. Mikalajūnas is an executive with over 20 years of experience working in various energy companies, participating in both regulatory and commercial activities, forming relationships with stakeholders and regulatory authorities as well as managing large-scale projects.

J. Rimavičius is a strategic-level finance professional with experience in M&A activities and capital raising projects, including Ignitis Group’s IPO and Green Bonds issues. Prior to joining the Group, Jonas had accumulated experience in the areas of investment banking and corporate finance at Swedbank, EY and Telia.

Vilnius CHP's waste-to-energy unit has been generating heat and electricity since 2021. The waste-to-energy unit incinerates about 160,000 tonnes of municipal waste, turning it into energy, and the biomass unit will incinerate about 500,000 tonnes of biomass per year.

After Vilnius CHP’s biomass unit is complete, Vilnius CHP will be one of the most technologically advanced combined heat and power plants in Europe. It is estimated that the plant’s total electric capacity will reach 93 MW, and heating capacity – 239 MW.