Ignitis

From Wikipedia, the free encyclopedia

Template:Short description

Page Module:Infobox/styles.css has no content.Page Template:Infobox company/styles.css has no content.

Ignitis grupė AB
Company type
State-owned enterprise
LSE: IGN
ISINScript error: No such module "WikidataIB".
IndustryScript error: No such module "WikidataIB".
PredecessorScript error: No such module "WikidataIB".
IncorporatedScript error: No such module "WikidataIB".
FoundedScript error: No such module "WikidataIB".
FounderScript error: No such module "WikidataIB".
DefunctScript error: No such module "WikidataIB".
SuccessorScript error: No such module "WikidataIB".
Headquarters
Vilnius
,
Lithuania
Area served
Lithuania
Latvia
Estonia
Poland
Finland
Key people
Darius Maikštėnas (CEO)
Alfonso Faubel (Chairman of Supervisory Board)
ProductsElectric power
Heat
Natural gas
RevenueScript error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Script error: No such module "WikidataIB".
Total assetsScript error: No such module "WikidataIB".
Total equity€2.263 billion (2023)[1]
OwnerMinistry of Finance
Number of employees
Script error: No such module "WikidataIB".
ParentFinance Ministry of Lithuania
SubsidiariesEnergijos skirstymo operatorius
Websiteignitisgrupe.lt

Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for deprecated parameters".

Ignitis Group (Ignitis grupė AB; former name: Lietuvos Energija UAB) is a state-owned energy holding company located in Vilnius, Lithuania. The Group’s core business is focused on operating Lithuania’s electricity distribution network (Networks) and managing and developing its Green Generation Portfolio (Green Generation). The Group also manages strategically important reserve capacities (Reserve Capacities) and provides services to its customers (Customers & Solutions), including the supply of electricity and natural gas, solar, e-mobility, energy efficiency and innovative energy solutions for private and business customers.

Ignitis Group shares are predominantly owned by the Ministry of Finance of the Republic of Lithuania, with the current Chairman of the Board and CEO of the company being Darius Maikštėnas.[2] It is the fifth largest company in the Baltics.[3]

The initial public offering was made on 7 October 2020.[4] Ignitis Group shares are listed in Nasdaq Vilnius and London Stock Exchange.

History

Lietuvos Energija was founded in 1991. It was a vertically integrated state-owned enterprise that owned and operated all electrical and heating businesses in Lithuania apart from the Ignalina Nuclear Power Plant. In 1997, the company was registered as Lietuvos Energija AB and it was partly privatized. The government kept 86.5% of the shares while 8.5% was privatized to the company's workers, and 5% to the Swedish company Vattenfall.[5] In 2002, power generation companies AB Lietuvos Elektrinė and AB Mažeikių Elektrinė, and distribution grid companies AB Rytų skirstomieji tinklai and AB Vakarų skirstomieji tinklai were separated from Lietuvos Energija.[6] In 2007, Lietuvos Energija acquired a stake in UAB Geoterma, the owner and operator of the Klaipėda Geothermal Demonstration Plant.[7]

In 2008, Lietuvos Energija was transferred to newly established energy holding company LEO LT.[6][8][9] After dissolution of LEO LT in 2010, Lietuvos Energija became a subsidiary of UAB Visagino Atomine Elektrine, a state-owned project company of the Visaginas Nuclear Power Plant.[10] At the same year, the company acquired Lietuvos Elektrinė, another subsidiary of Visagino Atomine Elektrine.[11] In September 2012, the transmission system operator Litgrid and the electricity market operator Baltpool were separated from Lietuvos Energija and spun off to the state-owned company EPSO-G.[12]

In 2013, Lietuvos Energija AB changed its name to Lietuvos Energijos Gamyba AB, and its parent company UAB Visagino Atominė Elektrinė has changed its name to Lietuvos Energija UAB.[13]

In October 2017, Lietuvos Energija acquired the Vilnius Combined Heat and Power Plant (Vilnius Power Plant-3) from Vilniaus šilumos tinklai.[14] In 2018, Lietuvos Energija bought Lithuanian wind park operators UAB Vejo Vatas and UAB Vejo Gusis with a 34-MW wind portfolio.[15] It also acquired a 50-MW wind park project in Poland.[16][17]

On 5 September 2019, Lietuvos Energija was renamed Ignitis Group. Lietuvos Energijos Tiekimas, Energijos Tiekimas, Gilė and Litgas were merged to form Ignitis UAB. Lietuvos Energijos Gamyba became Ignitis Gamyba and Lietuvos Energija Renewables became Ignitis Renewables. Other subsidiaries, except Energijos Skirstymo Operatorius, were also renamed accordingly.[18]

In 2020, Ignitis Group implemented the initial public distribution of shares (English IPO), after which its shares were listed on the Nasdaq Vilnius stock exchange.[19] The IPO raised 450€ million EUR capital while the state continues to control a 74.99% controlling share package.[20]

On September 9, 2021, Ignitis Group acquired 100% of the capital of Ignitis Gamyba after delisting the later from Nasdaq Vilnius alongside Energijos skirstymo operatorius.[21] In July 2024, Ignitis transferred equipment from its TPP-3 Vilnius thermal power plant to support Ukraine's energy infrastructure as part of the Baltics states mission to support the freedom.[22]

Investment in renewable energy across the Baltic countries

In 2023, Copenhagen Infrastructure Partners and Ignitis won the tender in an auction to develop offshore wind farms in the Liivi 1 and Liivi 2 areas for Estonia in the Baltic Sea.[23][24] In November 2024, the Group announced its intent to participate in second tender to develop 700 MW offshore wind capacity in the Baltic Sea off the coast of Lithuania.[25] It will attempt to identify a partner for the project.[26] This followed Ignitis' win of the first tender in 2023 with a partner.[27][28]

The company also plans significant investment in Latvia. The company has announced plans to invest €178 million in solar energy in Latvia through three solar farms in Kuldīga and Bauska.[29] Ignitis plans to invest at least €700 million in solar and wind projects in Latvia.[30][31] It also plans an investment of €115 million to develop the largest fast-charging network for electric cars in Latvia by 2026.[32]

The company manages investment in renewable energy through its subsidiary, Ignitis Renewables.[33]

Operations

File:Energy of Lithuania.JPG

Ignitis Gamyba (100% stake owned by Ignitis Group) owns the Elektrėnai Power Plant, the Kruonis Pumped Storage Plant and the Kaunas Hydroelectric Power Plant.[11][14] Meanwhile, the Vilnius Combined Heat and Power Plant is 100% owned directly by Ignitis Group.[34] Ignitis supplies electricity through Energijos Skirstymo Operatorius AB (100% stake owned by Ignitis Group)[35] and natural gas through Ignitis UAB. Its subsidiary UAB Ignitis Renewables is responsible for the wind and solar energy projects.[36] In addition to Lithuania, Ignitis operates in Estonia, Latvia, Poland, and Finland.[11]

References

Page Template:Reflist/styles.css has no content.

  1. ^ Page Module:Citation/CS1/styles.css has no content."Ignitis, Integrated annual report 2023" (PDF).
  2. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvos Energija CEO: Our goal is international presence". Renewables Now. 2019-02-20. Retrieved 2019-02-21.
  3. ^ Page Module:Citation/CS1/styles.css has no content."Only six Latvian companies among 50 biggest in Baltic". eng.lsm.lv. Retrieved 2025-01-08.
  4. ^ Page Module:Citation/CS1/styles.css has no content."Shares in Lithuania's Ignitis Group slip in market debut". Reuters. 2020-10-07. Retrieved 2021-05-19.
  5. ^ Page Module:Citation/CS1/styles.css has no content.Krishnaswamy, Venkataraman; Stuggins, Gary (2003). Private Sector Participation in the Power Sector in Europe and Central Asia. World Bank. pp. 73–74. ISBN 978-0-8213-5529-9.
  6. ^ a b Page Module:Citation/CS1/styles.css has no content.Impact of Globalization to Law: New Challenges and New Opportunities. Materials of the international scientific conference. VMU Press. 2009. p. 58. ISBN 9789955125280.
  7. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvos Energijos gamyba to acquire Geoterma shares". Baltic Business News. 2007-12-27. Archived from the original on 2011-09-05. Retrieved 2010-10-29.
  8. ^ Page Module:Citation/CS1/styles.css has no content."Government Approves Establishment of Lithuanian Electricity Organisation LEO LT AB" (Press release). Government of the Republic of Lithuania. 2007-12-20. Archived from the original on 2008-03-05. Retrieved 2008-02-25.
  9. ^ Page Module:Citation/CS1/styles.css has no content.Adomaitis, Nerijus (2007-12-20). "Lithuania agrees merged energy firm for nuclear plant". Reuters. Archived from the original on February 22, 2019. Retrieved 2010-10-29.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Vaida, Petras (2010-07-14). "Visagino Atomine Elektrine gets Lietuvos Energija shares". The Baltic Course. Retrieved 2010-10-29.
  11. ^ a b c Page Module:Citation/CS1/styles.css has no content."Lietuvos Energija acquires Lietuvos Elektrine shares". The Baltic Course. 2010-10-13. Retrieved 2010-10-29.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Visagino Atomine Elektrine UAB Consolidated annual report, consolidated and company's financial statements for the year ended 31 December 2012 (Report). UAB Visagino Atomine Elektrine. 2013-04-08. Retrieved 2014-11-07.
  13. ^ Page Module:Citation/CS1/styles.css has no content."Energy group restructuring moves forward with election of VAE Supervisory Board" (Press release). Lietuvos Energija UAB. 2013-07-16. Retrieved 2019-02-21.
  14. ^ a b Page Module:Citation/CS1/styles.css has no content."Jėgainėms – rezervo vaidmuo, Lietuvai – elektros importas" [The role for power plants – reserve, for Lithuania – electricity import]. Lietuvos žinios (in lietuvių). 2019-01-29. Archived from the original on 2019-01-29. Retrieved 2019-02-21.
  15. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvos Energija finalises acquisition of 34-MW wind portfolio in Lithuania". Renewables Now. 2018-11-07. Retrieved 2019-02-21.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Shah, Shakhil (2018-11-06). "Lietuvos Energija to build wind farm in Poland". Emerging Europe. Retrieved 2019-02-21.
  17. ^ Page Module:Citation/CS1/styles.css has no content."Lithuania's Lietuvos Energija to buy 50-MW wind project in Poland". Renewables Now. 2018-11-05. Retrieved 2019-02-21.
  18. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvos Energija becomes Ignitis Group". The Baltic Times. 2019-09-09. Retrieved 2020-01-14.
  19. ^ Page Module:Citation/CS1/styles.css has no content."Biržā sāk Lietuvas valsts uzņēmuma «Ignitis Group» akciju tirdzniecību". www.lsm.lv (in latviešu). Retrieved 2025-01-08.
  20. ^ Page Module:Citation/CS1/styles.css has no content.""Ignitis grupė" įvykdė IPO – kas tai ir kodėl vadinama dešimtmečio sandoriu". DELFI (in lietuvių). Retrieved 2023-01-13.
  21. ^ Page Module:Citation/CS1/styles.css has no content."Ownership rights of all Ignitis Gamyba shares have been transferred to Ignitis Group". view.news.eu.nasdaq.com. Retrieved 2023-01-13.
  22. ^ Page Module:Citation/CS1/styles.css has no content."Lithuania to transfer equipment from Vilnius TPP-3 to Ukraine". New Voice. Retrieved 2025-01-08.
  23. ^ Page Module:Citation/CS1/styles.css has no content.Buljan, Adrijana (2024-01-17). "CIP, Ignitis to Build Both of Estonia's Offshore Wind Farms, Plan to Combine Sites Into Single Project". Offshore Wind. Retrieved 2024-11-20.
  24. ^ Page Module:Citation/CS1/styles.css has no content."Copenhagen Infrastructure and Ignitis score in Estonian wind tender". Energy Global. 2023-12-14. Retrieved 2024-11-20.
  25. ^ Page Module:Citation/CS1/styles.css has no content.""Ignitis grupė" dalyvaus antrajame jūrinio vėjo konkurse". lrt.lt (in lietuvių). 2024-10-15. Retrieved 2025-01-08.
  26. ^ Page Module:Citation/CS1/styles.css has no content.Lepic, Bojan (2024-10-16). "Ignitis looking for partner in Lithuania's second offshore wind round". Splash247. Retrieved 2025-01-08.
  27. ^ Page Module:Citation/CS1/styles.css has no content."Maikštėnas: "Ignitis" svarsto dalyvauti antrajame jūrinio vėjo parko aukcione". lrt.lt (in lietuvių). 2024-09-13. Retrieved 2025-01-08.
  28. ^ Page Module:Citation/CS1/styles.css has no content.""Ignitis grupė" ketina investuoti 700 mln. eurų į saulės ir vėjo projektus Latvijoje". lrt.lt (in lietuvių). 2023-03-22. Retrieved 2025-01-08.
  29. ^ Page Module:Citation/CS1/styles.css has no content."Lithuanian Ignitis Renewables to invest in Latvia's solar energy". eng.lsm.lv. Retrieved 2025-01-08.
  30. ^ Page Module:Citation/CS1/styles.css has no content.""Ignitis grupė" ketina investuoti 700 mln. eurų į saulės ir vėjo projektus Latvijoje". lrt.lt (in lietuvių). 2023-03-22. Retrieved 2025-01-08.
  31. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvas enerģētikas uzņēmums «Ignitis» plāno Latvijā investēt 700 miljonus eiro". www.lsm.lv (in latviešu). Retrieved 2025-01-08.
  32. ^ Page Module:Citation/CS1/styles.css has no content."Lietuvas «Ignitis» elektroauto uzlādes tīkla izveidē Latvijā plāno ieguldīt 115 miljonus eiro". www.lsm.lv (in latviešu). Retrieved 2025-01-08.
  33. ^ Page Module:Citation/CS1/styles.css has no content."Baigusi VKJ statybą "Ignitis grupė" inicijuos 49 proc. akcijų pardavimą". lrt.lt (in lietuvių). 2024-05-23. Retrieved 2025-01-08.
  34. ^ Page Module:Citation/CS1/styles.css has no content."Vilniaus kogeneracinė jėgainė UAB (En) | Ignitis grupė".
  35. ^ Page Module:Citation/CS1/styles.css has no content.""Energijos skirstymo operatorius" AB (En) | Ignitis grupė".
  36. ^ Page Module:Citation/CS1/styles.css has no content."Regarding the establishment of UAB Lietuvos Energija Renewables" (Press release). Lietuvos Energija UAB. 2018-12-31. Retrieved 2019-02-21.

Lua error in package.lua at line 80: module 'Module:Authority control/config' not found.

Retrieved from "https://cosmopedia.co/index.php?title=Ignitis&oldid=3581808"