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On the intent to establish a subsidiary of UAB “Ignitis renewables” in Latvia

Written by Customer Service on . Posted in Public Companies.

We inform that the Management Board of AB “Ignitis grupė” (hereinafter – the Group) on 25 January 2022 approved the decision to establish a new subsidiary of UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) in Latvia.

Latvia is a strategically important market to the Group, which is growing its Green Generation portfolio consistently. On 13 August 2021 the Group announced about the acquisition of three wind farm projects in Latvia (link). It is estimated that, after the new company is established, a simpler, faster and more effective way of operating in the Latvia’s renewables market would be created, which would strengthen the Group’s ability to develop its Green Generation portfolio.

Ignitis Renewables would own 100% of shares of the company established in Latvia.

The Group will not inform about the registering of the company and related works separately.

The Group reminds that the objective to consistently expand the Green Generation portfolio and reach 4 GW installed Green Generation capacity by 2030 is set out in its strategy (link).

For more information please contact:

Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 6 207 6076

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