Ignitis wraps up deal for 300-MW Lithuanian onshore wind project

Lithuanian utility Ignitis Group (VSE:IGN1L) announced it has completed the acquisition of an onshore wind project comprising two separate sites with an estimated capacity of up to 300 MW in western Lithuania.

The purchase agreement was first announced at the end of June. The sites, already under construction, were acquired from Vilnius-based E Energija Group.

Ignitis said it expects the investment in the project, including the purchase price and construction costs, to amount to about EUR 550 million (USD 581.5m).

The project comprises the 105.4-MW Kelme WF I and the 194.6-MW Kelme WF II sites. The new power generation capacity is expected to go live in 2025.

(EUR 1 = USD 1.057)

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