AB Ignitis grup’s subsidiary secures contract for 1.4 GW wind farm project

  • AB Ignitis grup’s subsidiary, Ignitis renewables, won the auction to develop a wind farm in Estonia
  • The project will have a total capacity of up to 1.4 GW
  • The competition was organized by the Estonian Consumer Protection and Technical Regulatory Authority
  • The winning bid was 1.723 million euros
  • The wind farm will be located near the Liivi 2 wind farm in Estonia

AB Ignitis grup’s subsidiary, Ignitis renewables, has emerged as the winner in an auction to develop a wind farm in Estonia. The project, with a total capacity of up to 1.4 GW, will be located near the Liivi 2 wind farm. The competition was organized by the Estonian Consumer Protection and Technical Regulatory Authority, and the winning bid submitted by Ignitis renewables was 1.723 million euros. This marks the second successful offshore wind project for the company, as it aims to increase its renewable energy production capacity from 1.2 GW in 2022 to 4-5 GW by 2030. For more information, refer to AB Ignitis grup’s strategy.

Public Companies: AB Ignitis grup (TIDMIGN)
Private Companies: UAB Ignitis renewables, Copenhagen Infrastructure Partners P/S
Key People: Paulius Kalmantas (Ignitis renewables communication partner)

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Factuality Level: 7
Justification: The article provides information about Ignitis Group’s subsidiary, Ignitis Renewables, winning an auction to develop a wind farm in Estonia. The article includes details about the auction process and the location of the wind farm. It also mentions Ignitis Renewables’ partnership with Copenhagen Infrastructure Partners and their goal to contribute to the decarbonization of the Baltic region. The article does not contain any obvious misleading information or bias. However, the language used is technical and may be difficult for some readers to understand.

Noise Level: 2
Justification: The article is written in a foreign language and contains a lot of technical information about a specific company and its renewable energy projects. It is difficult to understand the relevance and significance of the information without further context or translation.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information about Ignitis grup’s subsidiary, Ignitis renewables, winning a bid to develop a wind farm in Estonia. This could impact the renewable energy sector and potentially the companies involved in the project.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to a financial topic as it discusses Ignitis grup’s subsidiary winning a bid for a wind farm project. However, there is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com