Notification on material event
AB Ignitis Grupė selected strategic partner for the development of offshore wind farm projects
AB Ignitis Grupė, (hereinafter – Ignitis Grupė or „the Company”) identification code 301844044, registered office placed at Žvejų str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 900 000 000 EUR; ISIN codes XS1646530565; XS1853999313; XS2177349912.
AB Ignitis Grupė on 14 September 2020 announced that it has selected a strategic partner for the development of offshore wind farm projects - OW Ocean Winds (hereinafter – „OW”) and its subsidiary UAB “Ignitis renewables” concluded the Joint Bidding Agreement with OW Offshore S.L. for the offshore wind process in Lithuania. The Company, together with OW, aims to participate in the first auctions for offshore wind in Lithuania which is expected in 2023.
The Company started the search for a strategic partner for the development of offshore wind farm projects in Q1 2019. After initiating a search for partners in offshore wind project development, AB Ignitis Grupė received initial interest from 10 potential partners, all of them from European offshore wind market leaders. 7 participants submitted official Expressions of Interest (EOIs).
In the joint offshore wind farm project to be developed in Lithuania, AB Ignitis Grupė subsidiary UAB “Ignitis renewables” will own 51 percent and OW – 49 percent of shares.
The Company’s subsidiary UAB “Ignitis renewables” has also agreed on the acquisition and signed sale-purchase agreement with Delphis Holdings Limited (subsidiary of OW Offshore S.L.) for 5 percent of shareholding interest in the development project of the Moray West wind farm on the East coast of Great Britain and will be the minority partner in the project.
For more information:
Head of Public Relations at Ignitis Group
Mobile phone +370 620 76076