Ignitis Renewables has signed a conditional sale and purchase agreement with E energija to purchase a 100% stake in two of its companies for the development of a 300MW onshore wind farm in the Kelmė district of Lithuania.

E energija is engaged in the development and construction of wind, solar and hybrid wind farms in Lithuania and neighbouring countries.

E energija Group CEO Gediminas Uloza stated: “We started the wind farm project in Kelmė more than five years ago and we are proud that in the hands of Ignitis Renewables, one of the largest wind projects currently under construction in Lithuania will make a significant contribution to Lithuania’s quest for energy independence.”

Ignitis will oversee the construction of the wind farm, which will be developed in two phases.

The acquisition price and construction costs could reach €550m ($602m).

Ignitis Renewables CEO Thierry Aelens stated: “This is another important step in expanding our portfolio of wind farm projects in Lithuania and increasing our green generation capacity.

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By GlobalData

“We are moving rapidly towards the strategic goal of the entire Ignitis Group to increase green generation and reach 4–5GW of installed capacity by 2030.”

The construction phase has already begun, with power generation expected to commence in 2025.

The clean energy generated will power 250,000 households in Lithuania.