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Holding Company
ignitisgrupe.lt

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Investments

1

About Ignitis Grupe

Ignitis Grupe is a state-controlled energy holding company in Lithuania. It controls companies involved in power and heat generation and distribution, natural gas trade and distribution and supporting services.

Ignitis Grupe Headquarter Location

Žvejų g. 14

Vilnius, 09310,

Lithuania

(85) 278 2998

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Latest Ignitis Grupe News

Lithuania's Ignitis happy with H1 2021 results, growth forecast intact

Sep 1, 2021

Pomerania wind farm. August 31 (Renewables Now) - Lithuanian energy company Ignitis Grupe AB (VSE:IGN1L) reported on Tuesday adjusted EBITDA of EUR 168.4 million (USD 199.4m) for the first half of 2021, achieving a 30.5% year-on-year growth mainly on the back of green generation. The group benefited from the installed capacity of the Kaunas combined heat and power (CHP) cogeneration plant, which was launched last year, and the start-up of the Vilnius CHP waste-to-energy unit in March 2021. The new capacity was complemented by better results from the Kaunas hydropower plant due to higher electricity prices, Ignitis said. More financial details follow in the table below: In EUR millions: 187.3 In light of solid financial results, Ignitis reiterated its adjusted EBITDA forecast of EUR 300 million-310 million for 2021, which would represent growth of 3%-6% compared to the results achieved in 2020. Ignitis raised the green generation installed capacity by 43 MW to 1,120 MW since the first half of 2020 -- 24 electric megawatts (MWe) come from the Kaunas CHP, while the Vilnius plant’s waste-to-energy unit generates 19 MWe. The group’s efforts to reach commercial operation date (COD) for the 94-MW Pomerania wind farm in Poland were delayed for the third quarter of 2021, mainly due to the COVID-19 pandemic and other “typical project development risks”, Ignitis said. All of Pomerania's turbines are built and running, but the COD will follow once the wind farm secures its generation licence. Also, projects in its Polish solar portfolio I, of up to 170 MW, failed to secure contract-for-difference tariff in the last two auctions in Poland. Ignitis said that, as a result, it had initiated agreement negotiations with the developer. Other green generation projects are fully on track, the group added. (EUR 1.0 = USD 1.184)

Ignitis Grupe Investments

1 Investments

Ignitis Grupe has made 1 investments. Their latest investment was in Hepta Airborne as part of their Unattributed on June 6, 2019.

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Ignitis Grupe Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/19/2019

Unattributed

Hepta Airborne

$0.73M

Yes

2

Date

6/19/2019

Round

Unattributed

Company

Hepta Airborne

Amount

$0.73M

New?

Yes

Co-Investors

Sources

2

Ignitis Grupe Acquisitions

1 Acquisition

Ignitis Grupe acquired 1 company. Their latest acquisition was VVP Investment on December 27, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/27/2018

$99M

Acquired

1

Date

12/27/2018

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

Ignitis Grupe Team

1 Team Member

Ignitis Grupe has 1 team member, including current Chief Executive Officer, Darius Maikstenas.

Name

Work History

Title

Status

Darius Maikstenas

Widerfi, Telia, and T Scientific

Chief Executive Officer

Current

Name

Darius Maikstenas

Work History

Widerfi, Telia, and T Scientific

Title

Chief Executive Officer

Status

Current

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