Latest news with #AB'Ignitisgrupė
Business Upturn
5 days ago
- Business
- Business Upturn
72.5 MW Stelpe solar farm I in Latvia reaches the commercial operation date
AB 'Ignitis grupė' (hereinafter – the Group) informs that Stelpe solar farm I, controlled by its subsidiary UAB 'Ignitis renewables' (hereinafter – Ignitis Renewables), has reached the commercial operation date (hereinafter – COD). The project is in the southern part of Latvia, Bauska municipality. Covering 85 hectares, the solar farm is equipped with 121 thousand solar panels with a total installed capacity of 72.5 MW. The total investments in the solar farm, including acquisition and construction, will amount up to EUR 50 million. Advertisement With Stelpe solar farm I reaching COD, the Group's installed Green Capacities have increased to 1.9 GW (from 1.8 GW). The Group reminds that its strategic priority is to increase its Green Capacities from 1.4 GW in 2024 to 4–5 GW by 2030. For further details, see the Group's strategy (link). The information provided in this announcement does not affect the Group's Adjusted EBITDA and Investments guidance for 2025. For additional information, please contact: Communication Valdas Lopeta +370 621 77993 [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Business Upturn
14-05-2025
- Business
- Business Upturn
AB 'Ignitis grupė' Strategic Plan 2025–2028: paving the way towards 100% green and secure energy ecosystem
AB 'Ignitis grupė' (hereinafter – the Group) publishes its Strategic Plan 2025–2028, which is attached to this notice. The Group remains committed to executing its ambitious strategy with the purpose to create a 100% green and secure energy ecosystem for current and future generations. We are continuing to expand the Group's Green Capacities Portfolio to reach 4–5 GW of installed Green Capacities by 2030, thus strengthening the energy security and contributing to the surplus green energy production in the region. In the Networks segment, we are expanding and maintaining the electricity grid to facilitate green transition. Highlights of the strategic plan We target to double the installed Green Capacities, reaching a total of 2.6–3.0 GW in 2028 compared to 1.4 GW in 2024. Currently, the Group's Green Capacities Portfolio amounts to 8.4 GW, of which 3.1 GW is Secured Capacity. We focus on the development of green generation and green flexibility technologies – onshore and offshore wind, batteries, pumped-storage hydro and power-to-x. To enable the Green Capacities build-out, we utilise and further expand our customer base to ensure electricity offtake. Expanding the electricity supply portfolio in the countries we are active in should lead to a significant increase in the amount of supplied electricity by the Group, from 6.7 TWh in 2024 to 9.0–11.0 TWh by 2028. Also, the Group continues to build a leading EV fast-charging network, being the first-choice provider of charging solutions in the Baltics for home and business customers. In the Networks segment, we are focusing on ensuring resilient and efficient electricity distribution and electricity network expansion to facilitate the energy market. And through the Reserve Capacities segment, we ensure the reliability and security of the power system. Financial targets In 2025–2028, we plan to invest EUR 3.0–4.0 billion with over 85–90% of the Investments to be aligned with the EU Taxonomy. We plan to direct around 59% of the Investments (EUR 1.7–2.4 billion) to further develop Green Capacities. More than half of the Investments in Green Capacities over the 2025–2028 period relate to new installed Green Capacities additions after 2028. The second largest portion, around 36%, of the Investments (EUR 1.2–1.3 billion) is to be directed towards the expansion and maintenance of a resilient and efficient electricity distribution network, which is one of the key elements of a successful energy transition. The Investments should translate into EUR 600–680 million Adjusted EBITDA in 2028, up from EUR 527.9 million in 2024. We aim to achieve a sustainable share of Adjusted EBITDA of at least 70–75% by 2028. The average Adjusted ROCE is expected to be within 6.5–7.5% in 2025–2028. We target to maintain our credit rating of 'BBB' and above over the 2025–2028 period, supported by disciplined financial management. We will continue our investment program while maintaining the Net Debt to Adjusted EBITDA ratio below 5 times. In line with the Dividend Policy, we are committed to a minimum of 3% annual dividend growth, implying a 6.4%–7.0% dividend yield for the 2025–2028 period. Sustainability priorities and targets We target to reach net zero emissions by 2040–2050. We will maximise sustainable value by directing our investments toward a decarbonisation pathway that is aligned with our business ambitions and reaching net zero emissions by 2040–2050. Our sustainability-related priority is reducing the carbon intensity of our Scope 1 & 2 GH G emissions (to 190 g CO2-eq/kWh in 2028 or reducing by 5% vs. 2024) by growing installed Green Capacities and increasing the share of green electricity used for our operations. Long-term performance objectives Following the Strategic Plan, the Supervisory Board of Ignitis Group approved the long-term objectives and performance targets for the 2025–2028 period that determine the long-term variable part of remuneration for key executives. The details of the Long-Term Incentive Plan objectives for the 2025–2028 period are available in the Strategic Plan's annexes and on our website . Earnings call In relation to the announcement of the First three months 2025 interim report and Strategic Plan 2025 – 2028 , an earnings call for investors and analysts will be held on Wednesday, 14 May 2025, at 1:00 pm Vilnius / 11:00 am London time. To join the earnings call, please register at: It will be also possible to join the earnings call by phone. To access the dial-in details, please register here . After completing the registration, you will receive dial-in details on screen and via email. You will be able to dial in using the provided numbers and a unique pin or by selecting 'Call me' option and providing your phone details for the system to connect you automatically as the earnings call starts. All questions of interest can be directed to the Group's Investor Relations team in advance, after registration or live during the earnings call. Presentation slides will be available for download prior the call at: The First three months 2025 interim report, fact sheet (in Excel) and other published documents will be available for download at: Strategic Plan 2025–2028 will be available for download at: For additional information, please contact: Communications Valdas Lopeta+370 621 77993 [email protected] Investor Relations Ainė Riffel-Grinkevičienė+370 643 14925 [email protected] Attachment Ignitis Group Strategic Plan 2025-2028 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
14-05-2025
- Business
- Yahoo
AB 'Ignitis grupė' Strategic Plan 2025–2028: paving the way towards 100% green and secure energy ecosystem
AB 'Ignitis grupė' (hereinafter – the Group) publishes its Strategic Plan 2025–2028, which is attached to this notice. The Group remains committed to executing its ambitious strategy with the purpose to create a 100% green and secure energy ecosystem for current and future generations. We are continuing to expand the Group's Green Capacities Portfolio to reach 4–5 GW of installed Green Capacities by 2030, thus strengthening the energy security and contributing to the surplus green energy production in the region. In the Networks segment, we are expanding and maintaining the electricity grid to facilitate green transition. Highlights of the strategic plan We target to double the installed Green Capacities, reaching a total of 2.6–3.0 GW in 2028 compared to 1.4 GW in 2024. Currently, the Group's Green Capacities Portfolio amounts to 8.4 GW, of which 3.1 GW is Secured Capacity. We focus on the development of green generation and green flexibility technologies – onshore and offshore wind, batteries, pumped-storage hydro and power-to-x. To enable the Green Capacities build-out, we utilise and further expand our customer base to ensure electricity offtake. Expanding the electricity supply portfolio in the countries we are active in should lead to a significant increase in the amount of supplied electricity by the Group, from 6.7 TWh in 2024 to 9.0–11.0 TWh by 2028. Also, the Group continues to build a leading EV fast-charging network, being the first-choice provider of charging solutions in the Baltics for home and business customers. In the Networks segment, we are focusing on ensuring resilient and efficient electricity distribution and electricity network expansion to facilitate the energy market. And through the Reserve Capacities segment, we ensure the reliability and security of the power system. Financial targets In 2025–2028, we plan to invest EUR 3.0–4.0 billion with over 85–90% of the Investments to be aligned with the EU Taxonomy. We plan to direct around 59% of the Investments (EUR 1.7–2.4 billion) to further develop Green Capacities. More than half of the Investments in Green Capacities over the 2025–2028 period relate to new installed Green Capacities additions after 2028. The second largest portion, around 36%, of the Investments (EUR 1.2–1.3 billion) is to be directed towards the expansion and maintenance of a resilient and efficient electricity distribution network, which is one of the key elements of a successful energy transition. The Investments should translate into EUR 600–680 million Adjusted EBITDA in 2028, up from EUR 527.9 million in 2024. We aim to achieve a sustainable share of Adjusted EBITDA of at least 70–75% by 2028. The average Adjusted ROCE is expected to be within 6.5–7.5% in 2025– target to maintain our credit rating of 'BBB' and above over the 2025–2028 period, supported by disciplined financial management. We will continue our investment program while maintaining the Net Debt to Adjusted EBITDA ratio below 5 times. In line with the Dividend Policy, we are committed to a minimum of 3% annual dividend growth, implying a 6.4%–7.0% dividend yield for the 2025–2028 period. Sustainability priorities and targets We target to reach net zero emissions by 2040–2050. We will maximise sustainable value by directing our investments toward a decarbonisation pathway that is aligned with our business ambitions and reaching net zero emissions by 2040–2050. Our sustainability-related priority is reducing the carbon intensity of our Scope 1 & 2 GHG emissions (to 190 g CO2-eq/kWh in 2028 or reducing by 5% vs. 2024) by growing installed Green Capacities and increasing the share of green electricity used for our operations. Long-term performance objectives Following the Strategic Plan, the Supervisory Board of Ignitis Group approved the long-term objectives and performance targets for the 2025–2028 period that determine the long-term variable part of remuneration for key executives. The details of the Long-Term Incentive Plan objectives for the 2025–2028 period are available in the Strategic Plan's annexes and on our website. Earnings call In relation to the announcement of the First three months 2025 interim report and Strategic Plan 2025–2028, an earnings call for investors and analysts will be held on Wednesday, 14 May 2025, at 1:00 pm Vilnius / 11:00 am London time. To join the earnings call, please register at: It will be also possible to join the earnings call by phone. To access the dial-in details, please register here. After completing the registration, you will receive dial-in details on screen and via email. You will be able to dial in using the provided numbers and a unique pin or by selecting 'Call me' option and providing your phone details for the system to connect you automatically as the earnings call starts. All questions of interest can be directed to the Group's Investor Relations team in advance, after registration or live during the earnings call. Presentation slides will be available for download prior the call at: The First three months 2025 interim report, fact sheet (in Excel) and other published documents will be available for download at: Strategic Plan 2025–2028 will be available for download at: For additional information, please contact: CommunicationsValdas Lopeta+370 621 Investor RelationsAinė Riffel-Grinkevičienė+370 643 Attachment Ignitis Group Strategic Plan 2025-2028Sign in to access your portfolio
