AB “Ignitis grupė” agreed to invest up to EUR 115 million in the development of an EV charging network in the Baltic states

AB “Ignitis grupė” (hereinafter – Ignitis Group or the Group) informs that on 12 July 2023 the Management Board of the Group agreed to the decision of its subsidiary UAB “Ignitis” (hereinafter – Ignitis) for Ignitis and its subsidiaries in Latvia and Estonia to invest up to EUR 115 million over 3–5 years to develop the electric vehicle (hereinafter – EV) charging network in the Baltics.

The main objective of the investment is acquiring EV charging stations in order to develop the charging network infrastructure in the Baltic states.

This investment aligns with Ignitis Group’s strategy to accelerate the development of the EV charging network and build the largest fast charging network in the Baltics by installing up to 3,000 EV charging points by the end of 2026. 

The information provided in this notification does not affect the Group’s Adjusted EBITDA guidance.

For more information, please contact:

Artūras Ketlerius

Head of Corporate Communications at Ignitis Group