AB “Ignitis grupė” (hereinafter – the Group) is planning to amend the key conditions of the loan agreement concluded with UAB “Ignitis renewables” intended for Green Generation development. The amended agreement provides an extension to the loan repayment deadline by 12 months, until 2 February 2023, and reduces the maximum loan amount to EUR 260 million from EUR 293 million.
The Supervisory Board of the Group approved the decision to amend the conditions of the loan agreement signed on 2 February 2021 with “Ignitis renewables” (hereinafter – the Loan) on 21 January 2022.The reduction of the Loan amount was also approved by the Group Audit Committee. The Loan conditions are updated every 12 months under a standard procedure, considering the market conditions and estimated investment plans of UAB “Ignitis renewables”.
The Loan funds will continue to be used as necessary in order to ensure Green Generation development. The Loan complies with the green generation development priorities and goals set out in the Group’s strategy.
The Loan amendment will be signed in the nearest future, the Group will not inform about its signing and its repayment in a separate material event notification.
The Group reminds that the objective to consistently increase Green Generation portfolio and reach 4 GW of installed Green Generation capacity by 2030 is set out in the strategy (link). Respectively, implementation of the agreements contributes to the implementation of strategic objectives.
For more information please contact:
Head of Public Relations at Ignitis Group
+370 620 76076