Regarding agreement

Regarding the agreement signed by Mažeikiai wind farm developer for the supply, construction and maintenance services

AB Ignitis Grupė (hereinafter – Ignitis Grupė) informs that on 23 November 2020 UAB VVP Investment (hereinafter – VVP Investment), a company controlled by its subsidiary company UAB Ignitis Renewables, signed an agreement (hereinafter – the agreement) with Nordex Energy SE & Co. KG regarding the turbine supply, construction and maintenance services. The services will be provided for the development of wind farm in Mažeikiai region (hereinafter – Mažeikiai wind farm) overseen by VVP Investment.

14 wind turbines will be installed in Mažeikiai wind farm with the total operational capacity of 63 MW. Construction is estimated to be completed before the end of 2022. According to the agreement, Nordex Energy SE & Co. KG will perform service and maintenance of the wind farm for 15 years after its construction.

Total cost of turbines, construction works as well as maintenance service agreement will amount to EUR 77.5m (excluding VAT).

The agreement was signed after the conclusion of the public procurement tender, during which the offers were evaluated in terms of price and other criteria such as: planned production of the wind farm, project implementation period, construction guarantee as well as evaluation of payment terms.

The developer of Mažeikiai wind farm, VVP Investment, is owned by the Group since the end of 2018. Total planned investments into this project amounts to over EUR 80m.

UAB Ignitis Renewables manages renewable sources projects in the Baltics and Poland and is responsible for the effectiveness of operational wind farms, supervision of farms under construction and their development. By implementing new wind and solar (green) energy projects, the company contributes to the strategic goals of Ignitis Grupė by increasing its green production portfolio.

Artūras Ketlerius, Head of Public Relations

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