Notification on material event
Regarding signing an agreement with Nordic Investment Bank for the loan to Pomerania Wind Farm sp. Z o.o, part of AB Ignitis Grupė
AB Ignitis Grupė (hereinafter- Ignitis Group or the Company) informs that Pomerania Wind Farm sp. z o.o, which is part of Ignitis Group, signed an agreement with the Northern Investment Bank (NIB) for the loan of up to PLN 150 million (approx. EUR 33.5 million) for the implementation of the Pomerania wind farm project which is being developed in Poland. On 12 October 2020, the Board of Ignitis Group approved the first-call guarantee agreement for this loan between the Company and NIB. Accordingly, the Company’s subsidiary UAB Ignitis Renewables, which owns all the shares of Pomerania Wind Farm sp. z o.o. signed an agreement with NIB for pledging 100 percent of the shares of Pomerania Wind Farm sp. z o.o. in favour of the lender.
The loan that is provided for the developing of the Pomerania Wind Farm project is planned to be repaid by 31 December 2035.
The Company will inform its investors about signing of these contracts by publishing a separate notification on material event and will announce the information to the media.
Pomerania wind farm is located in the Pomeranian Voivodship, Poland. The project is expected to be fully operational in the spring of 2021. The wind park has an expected production capacity of 300 GWh of electricity annually.
Head of Public Relations at Ignitis Group
+370 620 76076