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Ignitis Group’s new strategy increases green ambitions

Renewables-focused integrated utility Ignitis Group has announced in its strategy update and Strategic plan 2023–2026 that it is increasing its ambitions related to Green Generation development and emissions reduction.

The updated strategy focuses on delivering 4–5 gigawatts (GW) of installed green and flexible capacities by 2030, mostly focusing on offshore wind, onshore hybrid, P2X and storage technologies. Additionally, Ignitis Group now aims to reach net zero by 2040–2050.

“Our updated strategy describes the energy sector as an ecosystem and our commitment to maximise sustainable value. Thus, we are updating our purpose, which is creating a 100 per cent green and secure energy ecosystem for current and future generations,” said Darius Maikštėnas, CEO of Ignitis Group.

According to the Strategic plan 2023–2026, the Group will invest 2.2–2.8 billion euros in order to double the Green Generation installed capacity to 2.2–2.4 GW by 2026 compared to 1.2 GW in 2022. The company are planning to direct around 55 per cent of the investments towards the development of green and flexible capacities and around 45 per cent towards the expansion of a resilient and efficient electricity distribution network.

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