Last checked at 23 May 2024 14:45
Vilnius CHP biomass unit has reached full CODAB “Ignitis grupė” (hereinafter – the Group) informs that its subsidiary Vilniaus Kogeneracinė Jėgainė (hereinafter – Vilnius CHP) has completed the construction project because all the necessary documents and permits were received to commence the operations of Vilnius CHP at full capacity.
As reported in the Group’s Integrated Annual Report 2023, in December 2023 Vilnius CHP biomass unit has reached a partial (149 MWth, 50 MWe) COD for generating heat and electricity, in May 2024 it received certificates from the National Energy Regulatory Council to use the equipment of the biomass unit at its full capacity of 170 MWth while on 23 May it received a permit to generate electricity at its full capacity of 71 MWe. This means that the Vilnius CHP construction project has been completed, including the completion of both biomass and waste-to-energy units.
The European Commission’s decision to grant the investment aid for the construction of a high-efficiency cogeneration plant in Vilnius stipulates that the sale of a part of the shares in Vilnius CHP must be started within six months of the completion of the project. The Group informs that, considering the European Commission’s decision and in an effort to implement the asset rotation programme set out in the Group’s strategy, it is starting the process of selling minority stakes (up to 49%) in its subsidiary Vilnius CHP and other selected renewable energy companies controlled by the Group.
The sale process will be conducted in accordance with the Policy for the Full or Partial Sale of Shares in the Group's Subsidiaries (link).
Information on binding agreements reached with (a) potential investor(s) will be published according to the effective legal requirements. The Group notes that the start of the sale process does not imply that the aforementioned transaction(s) will take place, or that it/they will take place in the foreseeable future and/or to the extent indicated.
The Group reminds you that its objective to increase the Green Capacities 4 times, from 1.2 GW in 2022 to 4–5 GW by 2030, is set out in the Group’s strategy (link).
The information provided in this notification does not affect the Group’s 2024 Adjusted EBITDA and Investment guidance.
Artūras Ketlerius Head of Corporate Communications at Ignitis Group Email arturas.ketlerius@ignitis.lt Tel. +370 620 76076
