Lithuanian Ignitis Group to invest 50 million euro in PV in Poland

The Management Board of the Ignitis Group has approved a conditional share purchase agreement, under which its subsidiary Ignitis Renewables will enter into a 100% acquisition agreement. It would buy shares of Polish companies developing a 80 MW portfolio of photovoltaic projects. The contract will be signed soon. The estimated total value of the investment will amount to approximately EUR 50 million.

The state-controlled Lithuanian energy concern Ignitis Group is expanding its operations in Poland. The group announced the decision to purchase shares of selected companies that develop solar power plant projects in Poland.

“Poland is one of the priority markets of the group, where we plan to consistently develop and are constantly looking for attractive projects to increase the potential of green energy production. The investment in solar power plants in Poland will allow us to further increase our potential in this area and achieve 4 GW of installed green generation capacity by 2030, defined in the group’s strategy” – says Darius Maikštėnas, CEO of Ignitis Group.

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