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AB “Ignitis grupė” strategy update and Strategic plan 2023–2026 establish even more ambitious Green Generation and decarbonisation targets

Ignitis grupė
Ignitis grupė

On 23 May 2023 the Supervisory Board of AB “Ignitis grupė” (hereinafter – the Group) approved the updated strategy and Strategic plan 2023–2026 of the Group. In the updated strategy, the Group is reinforcing its commitments towards Europe’s decarbonisation and regional energy security. Our strategy also reflects more ambitious Green Generation targets.

The Group's purpose

The updated strategy introduces the updated purpose of the Group, which is creating a 100% green and secure energy ecosystem for current and future generations.

We fulfil our purpose by leading the regional transition into a climate-neutral, secure and independent energy ecosystem and contributing to Europe’s decarbonisation by facilitating renewable energy flows from Northern to Central Europe (incl. Germany).


By leading the regional transition in Lithuania and the Baltics, we strive to become one of the first 100% green energy systems in Europe.

By energy ecosystem we mean the combination of the multiple interdependent parties involved in the generation, consumption, transformation and transportation of clean energy (including industry, transport and heating).

Our purpose-driven priorities:

  • Green. Growing green capacities.

  • Flexible. Creating a flexible system that can operate on 100% green energy in the short, medium, and long term.

  • Integrated. Utilising the integrated business model to enable green and flexible generation build-out.

  • Sustainable. Maximising sustainable value.

Updated strategy

The updated strategy describes the Group as a renewables-focused integrated utility.

We are targeting to deliver 4–5 GW of green and flexible capacities by 2030 (instead of 4 GW, stated previously) by mainly focusing on offshore wind, onshore and solar hybrid as well as P2X and storage technologies.

We are targeting to reach net zero emissions by 2040–2050 (previously it was 2050).

Strategic plan 2023–2026

Key highlights:

  • We are utilising our integrated business model to enable green and flexible generation build-out and benefiting from the largest customer portfolio, energy storage facility, network and energy hub in the Baltics.

  • We aim to secure 2 offshore wind development projects in the Baltics: one project in Lithuania (COD until 2030) and one more project in our home market (COD post 2030).

  • We are utilising and further expanding our customer portfolio to enable Green Generation build-out. Our electricity retail supply portfolio will reach 10.5–10.9 TWh by 2026 (it was 7.7 TWh in 2022).

  • We are planning to build a leading EV public charging network in the Baltics with over 3,000 charging points, or 12 times more than in 2022.

  • We are planning to utilise our reserve capacities to ensure the reliability and security of the electricity system. Over the 2023–2026 period, we will ensure at least 98% capacity availability.

  • We are expanding a resilient and efficient network that enables electrification in Lithuania. We are expecting that the average annual SAIFI, interruptions per customer, over 2023–2026 will be below 1.05 compared to 1.18 in 2016–2020. Technological losses in the electricity network should also decrease and in 2023–2026 be ≤5.0%. We will continue the automation of the network, and the share of users connected to automated control lines in 2026 should reach around 63%. Additionally, we are planning to install over 1.2 million smart meters by 2026.

In 2023–2026 we are planning to invest EUR 2.2–2.8 billion. We plan to direct around 55% of the investments towards the development of green and flexible capacities in order to double the Green Generation installed capacity to 2.2–2.4 GW by 2026 compared to 1.2 GW in 2022. We are planning to direct around 45% of the investments towards the expansion of a resilient and efficient electricity distribution network.

We are also committed to maintaining our credit rating of ‘BBB’ and above over the 2023–2026 period.

We are expecting the Group’s adjusted EBITDA in 2026 to be within the range of EUR 470–550 million compared to EUR 332.7 million in 2021 and EUR 469.3 million in 2022. Average adjusted ROCE level in 2023–2026 is expected to reach 6.5–7.5%.

Our strategy also reiterates our commitment of 3% annual dividend growth, representing a dividend yield in 2023–2026 within the range of 6.3–6.9%.

Ignitis Group is also committing to maximise sustainable value by directing its strategic focus towards decarbonisation, OHS, employee experience, diversity and creating sustainable value. Over 85–90% of the investments over the 2023–2026 period will be sustainable and Taxonomy aligned. The sustainable share of adjusted EBITDA in 2026 will reach at least 75.0%. We are committed to maintaining ESG leadership.

Our strategy reflects our focus on the home market – the Baltic states, Poland and Finland. We also explore new opportunities in other EU Member States on the energy transition path.

The updated strategy also reflects the expectations expressed in the Letter of Expectations of the Ministry of Finance of the Republic of Lithuania, which holds 74,99% of the Group’s shares. The Letter of Expectations was updated on 11 May 2023 (link).

You can find the updated strategy of the Group attached below and on our website:

Public investor presentation:

After the publication of the updated strategy and the Strategic plan 2023–2026, on 23 May 2023, Tuesday, at 1 pm (Vilnius time) / 11 am (London time) we will hold a public investor presentation.

To join the presentation, please register at:

You can also join the presentation by phone. To access the dial-in details, please register here. After completing the registration, you will receive dial-in details on your screen and via email. You will be able to dial in by using the provided numbers and entering the unique code or by selecting ‘Call me’ option and providing your phone details for the system to connect you automatically as the presentation starts.

All questions can be directed in advance to the Group’s IR representatives using the contact details below, after registering for the presentation or live during the call.

Presentation slides will be available prior to the presentation:

For additional information please contact


Artūras Ketlerius
+370 620 76076

Investor relations

Ainė Riffel-Grinkevičienė
+370 643 14925