Ignitis Group expands in Poland – investing in a second wind farm project in the country

International energy company Ignitis Group is expanding its operations in Poland, where it was acquired a company developing a wind farm project. This is the Group’s second wind farm project in the country.

With the approval of the Management Board of Ignitis Group, Ignitis Renewables concluded a agreement to acquire 100% of the shares of the Polish company that is developing the wind farm project in Poland.

“The Group maintains its focus as Poland remains one of the priority markets where we are monitoring Green Generation developers and are looking for attractive investment projects. We are excited about Pomerania wind farm that was successfully completed recently and have no doubts about the success of our second wind farm in Poland”, said Darius Maikšt?nas, CEO at Ignitis Group.

The acquired project is in an advanced stage of development, it received a construction permit and was awarded a contract for difference (CfD) tariff of 237.5 PLN/MWh (around 51 EUR/MWh) in the Polish renewable energy auction. The estimated commercial operations date of the wind farm is around 2023. The total capacity of the wind farm is 50 MW.

In Poland the Group currently owns a wind farm in Pomerania, with a total capacity of 94 MW, and is developing a 250 MW solar power plant portfolio.