Ignitis Group concluded EUR 64 million financing agreement with EIB and NIB
AB “Ignitis grupė” (hereinafter – the Group) informs that on 14 December 2023 its subsidiary UAB VVP Investment, signed a non-recourse project financing for a 63 MW Mažeikiai wind farm (hereinafter – Mažeikiai WF) of EUR 64 million (hereinafter – the Loan) with the European Investment Bank (hereinafter – EIB) and Nordic Investment Bank (hereinafter – NIB).
The Loan is granted by two co-lenders, the share of each is EUR 32 million and is concluded for a period of 12 years. The Loan covers around 75% of total investments of Mažeikiai WF. Other conditions of the Loan are standard for a project finance.
The group reminds that Mažeikiai WF comprises 14 wind turbines with 4.5 MW capacity each. Mažeikiai WF reached commercial operation date in August 2023. The wind farm will power over 90 thousand homes with clean renewable energy.
The Group reminds that the objective of the Group is to increase its Green Generation capacity 4 times from 1.2 GW in 2022 to 4–5 GW by 2030. For further details, see the Group’s strategy ().
The information provided in this notification does not change the Group’s Adjusted EBITDA guidance for 2023.
For more information, please contact:
Artūras Ketlerius
Head of Corporate Communications at Ignitis Group
