Lithuania's Ignitis buys 170-MW solar portfolio in Poland

Lithuanian renewables-focused utility Ignitis Group has struck a deal to acquire an up to 170-MW portfolio of solar photovoltaic (PV) parks in Poland, it said on Thursday.

The assets were purchased from development and investment management company Sun Investment Group (SIG) for an undisclosed amount. According to the agreement, SIG will develop and prepare the portfolio for operation between 2021 and 2023.

The specific projects will be eligible for 15-year contracts for difference under Poland’s auction mechanism.

To be installed in the southern voivodeships of Poland, the solar parks are expected to generate around 190,000 MWh of electricity per year, or enough to cover the consumption of about 79,000 homes. Their output is seen to help offset around 156,000 tonnes of carbon dioxide (CO2) emissions annually.

Ignitis Group’s renewables operations are focused on the Polish and Baltic States markets. It's strategic goal is to lift its green assets through new wind and solar projects, it says in the statement.

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