Ignitis Group, an integrated utility focused on renewable energy, has reported its financial and operational results for the first nine months of 2025. The company increased its installed green capacities by 0.7 gigawatts (GW), bringing the total to over 2 GW after six wind and solar farms became operational in Lithuania, Latvia, and Poland.
The company’s investments reached 529.9 million euros during the period, with more than half allocated to network upgrades and over 40 percent directed towards expanding green capacities. The adjusted EBITDA was reported at 405.1 million euros, a year-on-year increase of 2 percent. Green Capacities accounted for just over half of this figure.
Among key projects completed were the Kelmė wind farm in Lithuania (313.7 MW), now the largest onshore wind farm in the Baltics; Silesia wind farm II in Poland (136.8 MW); and Latvia’s largest solar cluster comprising Varme (94 MW), Stelpe I (72.5 MW), and Stelpe II (72.5 MW) solar farms.
“The successful completion of several large-scale wind and solar farms across the Baltics and Poland represents a pivotal milestone for the green transition in our region. These projects not only boost renewable capacity but also strengthen energy independence and help us deliver more competitive electricity prices to our customers,” said Darius Maikštėnas, CEO of Ignitis Group.
The company also increased its secured capacity by 0.3 GW following investment decisions related to battery storage systems at sites in Lithuania including Kelmė, Kruonis, and Mažeikiai.
In distribution networks, Ignitis Group continued modernisation efforts as part of a revised ten-year plan that will see total investments reach 3.5 billion euros—a rise of 40 percent from previous projections—and has already surpassed its target for smart meter installations ahead of schedule.
Additionally, a new seven-year power purchase agreement was signed with Litgrid to supply up to 160 GWh of renewable electricity per year starting January 2026 at a fixed price point.
The group expanded its electric vehicle charging infrastructure across the Baltics with nearly 1,600 charging points now available, supported by grant funding for further growth.
Despite net debt rising by more than ten percent to nearly 1.8 billion euros, credit ratings agency S&P Global Ratings reaffirmed Ignitis Group’s ‘BBB+’ rating with a stable outlook following what is described as the company’s largest ever debt financing deal—318 million euros—for the Kelmė wind farm project involving several major European lenders.
A dividend payment totaling approximately 49 million euros was approved by shareholders for the first half of the year.
Looking forward to full-year results, Ignitis Group expects adjusted EBITDA between 510–540 million euros and investments ranging from 700–800 million euros.
