Ignitis Group and Copenhagen Infrastructure Partners entered a partnership to participate in Estonian and Latvian offshore wind tenders

AB “Ignitis grupė” (hereinafter – the Group) informs that on 1 August 2023 its subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) and Copenhagen Infrastructure Partners P/S (hereinafter – CIP), through its New Markets Fund I, have signed an agreement to collaborate exclusively on offshore wind opportunities in Estonia and Latvia and intend to jointly bid in the upcoming offshore wind tenders in these countries.

Based on currently available information, Estonia plans to hold auctions for multiple offshore wind sites in the last quarter of 2023. Additionally, an auction for the developer of a joint Estonian-Latvian state-run cross-border offshore wind project ELWIND is scheduled for 2026.

Ignitis Renewables and CIP aim to become an active and long-term partner for the energy transition in the Baltic region, supporting Estonia and Latvia’s decarbonization targets and energy security ambitions through the deployment of offshore wind.

CIP is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The partnership leverages the Group’s leading market position in the Baltic region and CIP’s global offshore wind expertise.

The Group reminds that the objective of the Group is to increase Green Generation capacity 4 times from current 1.2 GW to 4–5 GW by 2030 as set out in the Group’s strategy ().

The information provided in this announcement does not change the Group’s Adjusted EBITDA guidance.

For additional information, please contact:

Artūras Ketlerius

Head of Corporate Communications at Ignitis Group