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Ignitis to invest 115 mln euros to develop an EV charging network in the Baltics

Earlier in July, the Management Board of Lithuanian energy group Ignitis agreed that, together with its subsidiaries in Latvia and Estonia, it will invest up to 115 million euros over 3–5 years to develop an electric vehicle (EV) charging network in the Baltics. The main objective of the investment is to acquire EV charging stations in order to develop the charging network infrastructure in the Baltic states.

“Currently, we have more than 260 charging points in the Ignitis ON network, 4 of which are in Latvia,” said E. Balta, Head of E-mobility at Ignitis. “In Estonia, the first charging stations should appear at the beginning of next year. We see a huge demand for the charging network, and we are taking steps to meet this demand. By 2026, we plan to have up to 3,000 charging points installed in the Baltic states. We are maintaining our leadership in the EV charging network sector, we have a clear direction and we are firmly moving towards it. You will see that new Ignitis ON charging stations are popping up at a rapid pace. Electricity is the driving force of the future transport and we are boldly investing in it.”

This investment is indeed aligned with Ignitis Group’s strategy to accelerate the development of the EV charging network and build the largest fast charging network in the Baltics.

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