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Lithuania's Ignitis plots Polish solar expansion

Green Energy

Lithuanian energy company Ignitis Group said it is bolstering its position in Poland through the acquisitions of companies that are currently developing solar projects with a combined capacity of up to 80 MW (megawatt) in the country, according to a report by Pv-tech.org.

Ignitis Renewables will conclude an agreement to purchase 100% of the shares of the undisclosed Polish companies "in the near future" in transactions involving total investments of around EUR 50 million (USD 57 million).

The projects to be acquired currently are in various stages of development, with the commercial operations dates estimated around 2022–2023. Ignitis said in a statement sent to PV Tech that it would not be disclosing the names of the acquired companies at this stage.

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