AB “Ignitis grupė” Strategic Plan 2024–2027

envisions a two-fold increase in green capacities

AB “Ignitis grupė” (hereinafter – the Group) publishes its Strategic Plan 2024–2027, which is attached to this notice. The Group remains focused on its ambitious strategy execution with a purpose to create a 100% green and secure energy ecosystem.

This includes expanding Group’s Green Capacities Portfolio and growing Investments to deliver 4–5 GW of Installed Capacity by 2030, thus strengthening its contribution to Europe's decarbonisation and energy security in the region.

As a renewables-focused integrated utility, we focus on green generation and green flexibility technologies, including onshore and offshore wind, battery energy storage system (BESS), pumped-storage hydro and power-to-X.

We utilise our integrated business model and benefit from the largest customer portfolio, energy storage facility, and network in the Baltics.

To deliver on the ambitious goals in the Green Capacities and Networks segments, the Group plans to invest EUR 3.0–4.0 billion over the 2024–2027 period. This represents an increase of around EUR 1 billion compared to the previous strategic period, underscoring our commitment to a sustainable future.

Highlights of the strategic plan

We plan to double the Installed Green Capacities, reaching a total of 2.4–2.6 GW in 2027 compared to 1.3 GW in 2023. Currently, the Group’s Green Capacities Portfolio amounts to 7.4 GW, of which 2.9 GW is Secured Capacity.

We aim building at least 2 offshore wind projects in the Baltics: one project in Lithuania (COD ~2030), and at least one more project in the Baltics (COD post 2030). We seek to reach at least 700 MW of onshore wind capacity installed by 2027 in the Baltics and Poland.

We keep a focus on the development of green flexibility technologies: pumped-storage hydro expansion by 2026 (by adding 110 MW to the currently existing 900 MW); we are targeting to develop commercial-scale battery energy storage systems (BESS) by 2027 and implement a green hydrogen and e-fuel production pilot project.

We strive to further expand our customer portfolio to enable the Green Capacities build-out.

Our growing customer portfolio and focus on green electricity supply should lead to a significant increase in the amount of supplied electricity by the Group, from 6.7 TWh in 2023 to 9.0–11.0 TWh by 2027.

We plan to connect the growing number of new customers to the distribution network and to expand the capacity of electricity distribution network in order to enable a green transition and to meet growing demand related to electrification.