PVTIME - Ignitis Renewables Projektai, a subsidiary of Ignitis Renewables, which is owned by AB “Ignitis grupė” (hereinafter – the Group), on 13 July has signed a letter of intent with electricity transmission system operator Litgrid AB securing grid capacity in Jonava region, Lithuania for connection of 252 MW capacity solar park which is under development.
Project’s final investment decision will be made at a later stage of the project’s development. Investments are estimated to reach up to EUR 200 million. It would be the largest greenfield investment project initiated by the Group thus far. Furthermore, in the future the Group sees an additional development potential in this location.
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).
Ignitis Renewables is a green energy company operating in the Baltic states and Poland. It is responsible for developing onshore and offshore wind, solar energy, biomass and waste-to-energy projects and their further management. The company develops new projects in pursuit of Ignitis Group’s strategic goal to reach 4 GW installed green generation capacity by 2030. The Group’s total onshore wind and solar greenfield projects portfolio now is around 650 MW.