Lietuvos Energija UAB
Notification on material event
Regarding the loan increase for UAB Ignitis Grupė
UAB Ignitis Grupė (hereinafter – the Company) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313.
On 13 September 2019, the Company signed a modification of loan agreement with the Company’s subsidiary Ignitis Renewables, UAB (hereinafter – the Renewables) regarding the loan increase to EUR 70.3 million. Loan is granted to the Renewables to finance renewable energy projects.
The increased loan will be transferred to the Renewables until 28 February, 2020. The maturity date of the loan agreement was extended from 30 April, 2020 to 31 August, 2020.
As announced previously, on 28 May 2019, the Company signed an agreement with the Renewables regarding a loan of EUR 44 million, granted to the Renewables to finance further investments into renewable energy projects’ development and implement the Pomerania Invall Sp. z o. o. share sale-purchase agreement.
Currently, Pomerania Invall Sp. z o. o. is developing a wind farm project in Poland. The planned capacity to be installed is 94 megawatts (MW). The construction works started in the second quarter of 2019, whereas the launch of the park’s commercial activity is expected in 2021. Last November, Pomerania wind farm project participated in Poland‘s auction for renewable energy projects organised by Polish Energy Regulatory Office and won a 15-year guaranteed tariff of PLN 214.98 MWh (approx. EUR 50 MWh).
The Company will invest EUR 127 million into the Pomerania wind farm project.
Poland is one of the key markets for Ignitis Grupė, which is planning an active international development of its green generation activities. The acquisitions concluded on the basis of this strategy allows the Company to expand and diversify its operations, at the same time increasing the market value of Ignitis Grupė and ensuring a stable return for the Lithuanian State through competitive activities, developed in foreign markets.
Arturas Ketlerius, Head of Public Relations, mob. +370 620 76076, email. email@example.com