Ignitis takes FID on 174-MW solar project in Latvia

Lithuanian energy company Ignitis Grupe AB (VSE:IGN1L) announced Tuesday that it has taken a final investment decision (FID) on a solar project in western Latvia with a targeted capacity of 174 MW and expects to begin construction sometime this year.

The EUR-106-million (USD 116.9m) project will be built in Tukums municipality in the parish of Tume. It is expected to reach commercial operations in 2026, a press statement says.

The Tume solar farm is part of Ignitis’ push to increase its green energy portfolio four times to 4-5 GW by 2030.

In the first six months of 2024, the company launched the commercial operation of three green energy assets. These are the 50-MW Silesia I wind farm in southwestern Poland, the 71-MWe Vilnius combined heat and power (CHP) biomass unit, and the 22.1-MW Taurage solar farm in Lithuania.

(EUR 1 = USD 1.103)

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