Ignitis is acquiring a 250-MW hybrid project that includes storage in Lithuania.

Lithuanian energy firm Ignitis Grupe AB has made an agreement to acquire a company that holds the rights to a 250-MW hybrid renewable energy park featuring battery storage in its home nation.

The project entity, named Nord Wind Park, will be purchased by the renewable energy division of Ignitis, as announced by the parent company on Wednesday without disclosing any financial specifics.

The target project includes plans for a 200-MW wind farm, a 50-MW solar photovoltaic (PV) park, and a battery energy storage system (BESS) with a capacity of 20-MW/80-MWh. This facility is set to be developed in the Pasvalys region of northern Lithuania. However, grid-connection capacity has not yet been secured.

Due diligence processes are still pending, with the deal anticipated to finalize within a week. This transaction is aligned with the group’s objective to increase its installed green energy capacity from 1.4 GW in 2024 to between 4 GW and 5 GW by the decade's end.

Ignitis also mentioned that this acquisition will not impact its adjusted EBITDA and investment forecasts for 2025.