Ignitis Renewables in the near future will conclude a conditional agreement to acquire 100 percent of the shares of the Polish companies that are developing solar projects portfolio in Poland. Estimated total investments amount to around EUR 50 million.
“Poland is one of the priority markets of the Group, where we plan a consistent expansion and are constantly looking for attractive Green Generation projects that have potential” said Darius Maikštėnas, CEO of Ignitis Group. “The investment into solar power plants developed in Poland will allow us to keep increasing Green Generation capacity and reach 4 GW of installed Green Generation capacity by 2030 set out in the strategy of the Group.”
The projects to be acquired currently are in various stages of development, their commercial operations date (COD) is estimated around 2022–2023. They will operate under a Contract for Difference (CfD) awarded by Polish regulator or long-term Power Purchase Agreements (PPA).
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