Lithuania-based Ignitis grupė, through its subsidiary Ignitis Renewables, has made a final investment decision to develop a 174 MW solar farm in Tume, Latvia. The decision followed approval by the Group’s Management Board on September 3. The project, located in Tukums municipality, is expected to supply electricity to 85,000 people annually. Construction is set to begin in 2024, with commercial operations slated for 2026. The total investment is projected to reach up to EUR 106 million. As per Ignitis, this solar farm marks its third project in Latvia, alongside the 94 MW Varme and 145 MW Stelpė solar power plants. Despite the substantial investment, the Group claims that this will not affect its 2024 adjusted EBITDA and investment guidance.
Ignitis Renewables investing EUR 106 million in Latvia
Construction of the Tume solar farm will begin in 2024, with commercial operations expected to start by 2026. (Image Credit: Ignitis grupė)
The sale of Westbridge’s 75% stake in Sunnynook Solar to METLEN was completed, set to power 50,000 Alberta homes. (Image Source: Pixabay)
Module shipments in Q3 2024 reached 25,910 MW, with N-type modules comprising 90% of all shipments. (Image Source: SOLARbytes)
With revenue growth and a strong order book, AGEL sets its sights on 2025 IPO to strengthen financial resilience. (Image Credit/Source: KindelMedia/Pexels)
Runergy provides insights into ITC’s Section 337 timeline, countering misleading interpretations of its 45-day and 60-day procedural references. (Image Source: Runergy)