Ignitis Group, a prominent Lithuanian utility, has successfully concluded its acquisition of an onshore wind project consisting of two separate sites, with a combined estimated capacity of up to 300 megawatts (MW) in western Lithuania. The purchase agreement, initially announced at the end of June, marks a significant expansion of the company's renewable energy portfolio.
The two sites, which were already under construction, were acquired from Vilnius-based E Energija Group. Ignitis anticipates that the total investment in the project, covering both the purchase price and construction expenses, will amount to approximately EUR 550 million (USD 581.5 million).
The project encompasses the Kelme WF I site with a capacity of 105.4 MW and the Kelme WF II site with a capacity of 194.6 MW. The new power generation capacity is slated to become operational in 2025.
Ignitis Group's strategic move underscores its commitment to advancing renewable energy in Lithuania and the broader region, further contributing to the diversification of the energy mix and reducing carbon emissions.
