Ignitis Group Secures EUR 77.5 Million Financing for Solar Farm Project
On May 16, 2025, AB “Ignitis Grupe” announced a significant financial milestone with the signing of a EUR 77.5 million project financing agreement. This agreement was concluded by its subsidiary, SP Venta SIA, in collaboration with Swedbank AS (Latvia) and “Swedbank” AB (Lithuania). The financing is earmarked for the development of the Stelpe solar farm, which boasts a total capacity of 239 MW.
This strategic move aligns with Ignitis Group’s broader commitment to expanding its renewable energy portfolio, particularly in solar energy. The company, which operates primarily in the Baltic region, has been focusing on developing a low-carbon generation portfolio. This includes investments in offshore wind, onshore hybrid, power-to-x, and storage technologies, all aimed at fostering a green and flexible energy capacity build-out.
Strong Performance and Strategic Execution in Q1 2025
Earlier in the month, on May 14, 2025, Ignitis Group released its first-quarter interim report for 2025, highlighting a strong performance and successful execution of its strategic plans. The report underscored the successful launch of the Kelme wind farm I, marking a significant step in the company’s renewable energy initiatives. Additionally, the company reiterated its full-year 2025 Adjusted EBITDA and investment guidance, reflecting confidence in its financial and operational strategies.
Long-term Vision: 100% Green and Secure Energy Ecosystem
Ignitis Group has also reaffirmed its long-term vision through the publication of its Strategic Plan for 2025-2028. The plan outlines the company’s ambition to create a 100% green and secure energy ecosystem. This strategic direction is consistent across multiple announcements, emphasizing the company’s commitment to sustainability and energy security for both current and future generations.
The strategic plan includes the expansion of the Group’s Green Capacities Portfolio, which is a testament to its dedication to achieving its ambitious environmental goals. By focusing on renewable energy sources and innovative technologies, Ignitis Group aims to lead the transition towards a sustainable energy future in the Baltic region and beyond.
Market Performance
As of May 14, 2025, Ignitis Group’s stock was trading at a close price of EUR 20.0628 on the London Stock Exchange. This price also represents both the 52-week high and low, indicating a stable market position amidst its strategic developments and financial agreements.
Ignitis Group continues to leverage its integrated business model to drive growth and sustainability in the utilities sector, positioning itself as a leader in the renewable energy landscape.