Regarding AB „Ignitis grupė“ intention to issue a guarantee

Regarding AB „Ignitis grupė“ intention to issue a guarantee and to conclude a guarantee service agreement

We inform that the Board of AB “Ignitis grupė” (hereinafter – the Group) approved to issue a guarantee to Nordex Polska Sp. z o.o (hereinafter – Nordex) of up to 50.211m euros (hereinafter – Guarantee) and to conclude a guarantee service agreement (hereinafter – Service Agreement) with Altiplano Elektrownie Wiatrowe B1 Sp. z o.o. (hereinafter – ALT). The Group Audit Committee also provided its’ opinion regarding the Service Agreement. The Group Supervisory Board, in the light of the opinion of the Group Audit Committee, approved the conclusion of the Service Agreement on 27 December 2021.

The Guarantee will guarantee that ALT, controlled by UAB “Ignitis renewables”, which is a subsidiary of the Group, will fulfil the obligations according to the 21 December 2021 agreement between ALT and Nordex for wind turbine supply, construction and maintenance services provided for wind farm project in Poland (more information here). The Service Agreement will ensure that ALT payment to the Group for the issued Guarantee by the Group to Nordex benefiting ALT complies with market conditions.

The Guarantee and the Service Agreement will be concluded in the nearest future. The Group will not inform in separate notices about the conclusion of the Guarantee and the Service Agreement.

For more information please contact:

Artūras Ketlerius
Head of Public Relations at Ignitis Group
arturas.ketlerius@ignitis.lt
+370 620 76076