Ignitis Group concluded a EUR 77.5 million financing agreement with Swedbank

AB "Ignitis grupe” (hereinafter – the Group) informs that on 16 May 2025 a subsidiary of the Group, SP Venta SIA, concluded a EUR 77.5 million project financing agreement (hereinafter – the Loan) with Swedbank AS (Latvia) and "Swedbank” AB (Lithuania) regarding a Stelpe solar farm and Varme solar farm with a total capacity of 239 MW.

The Loan will be granted by two creditors, divided equally equal, for a period of 15 years. Other terms and conditions of the Loan are standard for project financing transactions.

The 94 MW Varme solar farm is located in Kuldiga municipality and the 145 MW Stelpe solar farm, which consists of two separate sites in Stelpe and Barbale parishes is in Bauska municipality. The total installed capacity of the solar farms will reach 239 MW, which is enough to power around 96 thousand households in Latvia.

The investments in the projects, including the construction and project acquisition costs, are estimated to reach around EUR 178 million.

The Group reminds that its objective is to increase the Green Capacities from 1.4 GW in 2024 to 4–5 GW by 2030. We provide more details in the Group’s strategy (link).

The information provided in this notification does not affect the Group’s 2025 Adjusted EBITDA and Investment guidance.

For additional information, please contact:

Communications
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt