AB "Ignitis grupe" (hereinafter - the Group) informs that on 30 June, with the agreement of the Group's Management Board, the Group's subsidiaries UAB "Ignitis renewables" (hereinafter - Ignitis Renewables) and AB "Ignitis gamyba" (hereinafter - Ignitis Gamyba) made final investment decisions on three battery energy storage system (hereinafter - BESS) projects in Lithuania, with a combined 291 MW power and 582 MWh storage capacity. The German company Rolls-Royce Solutions GmbH will provide the equipment and the integration services for all three BESS projects.
Two projects in Kelme (147 MW power; 294 MWh storage capacity) and Mažeikiai (45 MW power; 90 MWh storage capacity) districts are located next to wind farms operated by Ignitis Renewables. The third project (99 MW power; 198 MWh storage capacity) is located near Kruonis Pumped Storage Hydroelectric Power Plant (hereinafter - Kruonis PSHP), operated by Ignitis Gamyba.
Considering the EUR 102 million state-aid fund for BESS projects in Lithuania and the 500 MWh cap per entity and its related undertakings, the aforementioned subsidiaries of the Group have submitted applications for state-aid for Kelme and Kruonis projects.
The role of renewable energy sources in electricity generation is constantly growing, therefore the Group is investing into solutions that help utilise it. BESS can store energy when it is abundant and use it when it is needed the most. They help ensure the network stability even during fluctuations in the solar or wind generation. This solution contributes to a cleaner, more reliable and sustainable energy future.
The construction works of the projects should start in 2025, and their COD is estimated for 2027. The total investment amount is around EUR 130 million.
The Group will ensure that the information and generation control systems of the BESS will be protected against remote access from countries identified as posing a threat under Lithuania's National Security Strategy.
The Group reminds that its objective is to increase its Green Capacities from 1.4 GW in 2024 to 4-5 GW by 2030. For further details, see the Group's strategy (link). Following this announcement, the Group's portfolio of projects under construction totals 1.0 GW.
The information provided in this announcement does not affect the Group's Adjusted EBITDA and Investments guidance for 2025.
For additional information, please contact:
Communication
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt
