Lithuania's Ignitis preps for green growth in Poland

Wind turbines in Poland. Image by: European Bank for Reconstruction and Development (EBRD).

May 6 (Renewables Now) - Lithuanian renewables-focused utility Ignitis Group (VSE:IGN1L), or AB Ignitis Grupe, said on Tuesday that it plans to acquire a shell company in Poland to facilitate future investments in local green energy projects.

Specifically, UAB Ignitis Renewables is getting ready to sign a deal in the nearest future in relation to the purchase of Poland-registered Dolcetto Sp. z o.o.

The particular firm has not conducted any activities prior to this agreement and Ignitis wants to utilise it “to accumulate competences and other resources, which will be used to acquire and develop green energy projects in the Polish market.”

Ignitis Renewables is already present in Poland through its ownership of Pomerania Wind Farm Sp. z o.o., which is the developer of a 94-MW wind project of the same name.

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