Ignitis Takes 239-MWp Solar Leap in Latvia
- Ignitis Group makes historic FID to build 239-MWp solar capacity in Latvia - largest ever such investment in Baltic states. EUR 178 million investment to increase green generation of Ignitis to 4-5 GW by 2030, construction to start in 2021.
Ignitis Group, a Lithuanian utility, announced today it has taken a final investment decision (FID) on a 239-MWp portfolio of three separate solar power assets across Latvia. This is the largest FID for the construction of solar power plants in the Baltic states. Grid connection of the assets has already been secured and there is an option to add wind power to each of the three solar farms through hybridisation.
The total investment in the solar capacity is expected to stand at up to EUR 178 million (USD 194.5m), including the construction expenses and project acquisition price. The investment is aligned with Ignitis' goal to increase its green generation capacity to 4-5 GW by 2030. Construction works on the three sites will start next year and the commissioning is expected in 2025.
What Is Ignitis Group's Largest FID in Baltic States?
- The three solar projects are located in different Latvian municipalities, with the largest one being located in the Municipality of Salacgrīva.
- The individual capacities of the three projects are 139 MWp, 64 MWp and 36 MWp, respectively.
- The projects are expected to produce up to 577 GWh of electricity on a yearly basis.
- Ignitis Group's largest FID in the Baltic states is for the construction of a 239-MWp portfolio of three separate solar power assets across Latvia.
- Investing up to EUR 178 million, this FID is aligned with the company's goal of increasing green generation capacity to 4-5 GW by 2030.
- Construction works on the three sites are expected to begin next year, with commissioning planned for 2025.
