Financing contract for the Pomerania wind farm project is signed

UAB Ignitis Grup?, (hereinafter – the Company, Ignitis Group) identification code 301844044, registered office placed at Žvej? str. 14, Vilnius, Republic of Lithuania. The total nominal value of issued bonds 600 000 000 EUR; ISIN codes XS1646530565; XS1853999313. 

Pomerania Wind Farm sp. z o.o, which is part of Ignitis Group, signed an agreement with the European Investment Bank (EIB) for the loan of PLN 258 million (approx. EUR 60 million) for the implementation of the Pomerania wind farm project which is being developed in Poland. Ignitis Group signed the first-call guarantee agreement for this loan between the Company and EIB. Accordingly, the Company’s subsidiary UAB Ignitis Renewables, which owns all the shares of Pomerania Wind Farm sp. z o.o. signed an agreement with EIB for pledging 100 percent of the shares of Pomerania Wind Farm sp. z o.o. in favour of the lender. Plans to sign these contracts were announced in Company’s notification on material event on 25th of February 2020. 

The loan that is provided for the developing of the Wind Farm project is planned to be repaid by December 31, 2035.   

The Company announced the acquisition of Pomerania Invall Sp. z o. o. on 28 May 2019 by issuing a notification on material event. The planned capacity of the wind farm is 94 megawatts (MW). The construction works started in July 2019, whereas the launch of the park’s activity is expected in 2021. 

Sustainable development based on the implementation of renewable energy projects both in Lithuania and abroad is among top priority goals in Ignitis Group’s Strategy 2030. Through these projects, the Group aims to increase its competitiveness and make a significant contribution to acceleration of the energy sector’s decarbonisation.