An international green energy company Ignitis Renewables is announcing its next significant project milestone in Poland – it has signed a contract and initiated the construction of the wind farm in Lower Silesian Voivodeship. Installed capacity of the wind farm will be 50 MW, and the total investments will reach approx. EUR 70 million.Wind farm to start generating first electricity in Q4 2023, and estimated production is expected approximately 122 GWh per year.
In Poland company already owns a wind farm in Pomerania, with a total capacity of 94 MW, and is developing an 80 MW solar power plant portfolio as well as 150 MW greenfield projects.
“The new wind farm in Poland will contribute to the Group’s Green Generation portfolio and will contribute to the reduction of electricity price in the region. It is important to note that the investments of Ignitis Renewables in other markets do not affect the electricity price in Lithuania, but generate profit, which returns to Lithuania in the form of dividends”, said Thierry Aelens, CEO of Ignitis Renewables. According to Thierry Aelens, an estimated total return on equity of the project aligns with the return policy of the Group for such projects communicated previously, which is high single-digit, low double-digit.
The construction works of the new wind farm in south-western Poland, near the border with Czech Republic will be carried out by CJR Renewables, a company with extensive experience in onshore wind farm constructions. This contractor also constructed another wind farm of Ignitis Renewables with 94 MW capacity in Pomerania, which launched at the end of last year. It is one of the largest wind farms in Poland and first project of its kind for Ignitis Group in the country.
The wind farm located in Bakow will have 14 3.6 MW wind turbines manufactured by an international turbine manufacturer Nordex. The scope of the project’s schedule ranges over a year. CJR Renewables is currently constructing other wind farms in Peru, Columbia and Portugal.
"With this project, we are strengthening our position in Poland and contributing to Ignitis Group's goal of delivering the best results from renewable energy projects. A relationship based on trust and commitment that spans many years can only be built by working together", says Bartosz Sobolewski, Regional Manager of CJR Renewables.
Ignitis Renewables own four operational wind farms in Lithuania, one operational wind farm in Poland and one in Estonia. The entire Green Generation portfolio of Ignitis Group, including operational assets, assets under development and under construction, amount to 1.4 GW.
About Ignitis Renewables
Ignitis Renewables, a subsidiary of Ignitis Group, is a green energy company operating in the Baltic states and Poland. It is responsible for developing onshore and offshore wind, solar energy, biomass, and waste-to-energy projects. The company develops new projects in pursuit of Ignitis Group’s strategic goal to reach 4 GW installed Green Generation capacity by 2030.