By increasing its green generation portfolio, Ignitis Renewables constantly expands the scope of solar park projects under development. In the autumn of 2021, the company announced the acquisition of 100% of several Polish companies’ shares. The capacity of the solar power plants owned by the companies amounts to 80 MW, and preliminary total investments reach about EUR 50 million. The acquired projects are in different stages of development, and their COD is estimated around 2022–2023. The revenue of the projects under development will be based on a contract for difference (CfD) awarded by the Polish renewables auction or on long-term power purchase agreements (PPA).
The company also announced in mid-2022 about its intention to construct a new solar park in Tauragė region next to a 10 MW wind farm of Ignitis Renewables. The capacity of the planned solar park should reach 22 MW. The capacity would cover the electricity demand of around 13,000 Lithuanian households. The solar park is estimated to launch by 2024. The first hybrid solar and wind farm in the history of Ignitis Group will undoubtedly contribute even more to the Group’s objective to expand green generation capacity.
In July 2022 Ignitis Renewables has secured grid connection for a 252 MW installed capacity solar park in the Jonava district, Lithuania. Preliminary, Investments are estimated to reach up to EUR 200 million.
Ignitis Renewables Projektai, a subsidiary of Ignitis Renewables, on 13 July has signed a letter of intent with electricity transmission system operator Litgrid AB to secure grid capacity in Jonava region for connection of 252 MW installed capacity solar park which is under development. The solar park is planned to be constructed and start generating electricity by 2025. The park should operate under market conditions. Project implementation also requires receiving over the next few months a permit to develop the electricity generation capacity from National Energy Regulatory Council (NERC).
The ability to produce electricity from different renewable energy sources increases the energy independence of the country, helps to solve the challenges of climate change and achieve the goals of sustainable development.