AB Ignitis grup On The Signed Agreement To Acquire Solar Projects In Development In Latvia
29 Dezembro 2022 - 6:00AM
UK Regulatory
TIDMIGN
AB "Ignitis grup " (hereinafter -- the Group) informs that,
after the approval of the Group's Management Board, on 29 December
the Group's subsidiary UAB "Ignitis renewables" signed a
conditional agreement to acquire 100% shares of a Latvian company
which is developing solar projects in Latvia (hereinafter -- the
Agreement).
Targeted total capacity of the projects under development will
reach up to 300 MWp. The projects are in development with estimated
start of construction in 2024 and commercial operation date in
2025. The completed projects will operate under market
conditions.
Total preliminary investments amount up to EUR 213 million,
which includes the project acquisition price and other CAPEX. The
payment of the acquisition price depends on achievement of
development milestones established in the Agreement. It must be
noted that the estimated total return on equity of the project is
equal to the levels of similar projects communicated earlier. The
expected return is in line with our target return range, i.e., high
single-digit to low double-digit on a levered equity basis.
The Group reminds that the objective of Ignitis Group companies
to consistently increase Green Generation portfolio and reach 4 GW
of installed capacity by 2030 is set out in the Ignitis Group
strategy (
https://www.globenewswire.com/Tracker?data=k27K03fkcBtNXmLevRQwVLiBk56elj6DqXJpiwggKTeGzsHbndqX-tTARDe9aVUPAFKDVX_vPX_6XzRVF56hXCnz30dUIufFQsXeO7EBVoKn4VQJ_rHXfFm2fD96W-AzmY3PllSqla7YtcfIMsuEHTT9ZWaym0eWXm_ZQXFPU6lUotz1USbZgvd3dw2wP37VaTDBj3VCdse9XUFh0My7zQ==
link). Thus, implementation of agreements contributes to the
implementation of strategic objectives.
For additional information, please contact:
Communications
Laura Beganskien
+370 654 24958
laura.beganskiene@ignitis.lt
(END) Dow Jones Newswires
December 29, 2022 04:00 ET (09:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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