Ignitis

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Energy holding company based in Lithuania

title: "Ignitis" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["electric-power-companies-of-lithuania", "natural-gas-companies-of-lithuania", "companies-based-in-vilnius", "energy-companies-established-in-1991", "non-renewable-resource-companies-established-in-1991", "1991-establishments-in-lithuania", "companies-listed-on-nasdaq-vilnius", "companies-in-the-omx-baltic-10", "government-owned-energy-companies", "government-owned-companies-of-lithuania"] description: "Energy holding company based in Lithuania" topic_path: "general/electric-power-companies-of-lithuania" source: "https://en.wikipedia.org/wiki/Ignitis" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Energy holding company based in Lithuania ::

::data[format=table title="Infobox company"]

Field	Value
name	Ignitis grupė AB
logo	File:Ignitis group logo.svg
image	Ignitis (Lazdynai) by Augustas Didzgalvis.jpg
image_caption	Ignitis Group office in Vilnius
type	State-owned enterprise
predecessor	Lietuvos energija
traded_as
ISIN
location_city	Vilnius
location_country	Lithuania
area_served	Lithuania
Latvia
Estonia
Poland
Finland
key_people	Darius Maikštėnas (CEO)
Alfonso Faubel (Chairman of Supervisory Board)
products	Electric power
Heat
Natural gas
equity	€2.263 billion (2023)
owner	Ministry of Finance
parent	Finance Ministry of Lithuania
subsid	Energijos skirstymo operatorius
homepage
::

| name = Ignitis grupė AB | logo = File:Ignitis group logo.svg | image = Ignitis (Lazdynai) by Augustas Didzgalvis.jpg | image_caption = Ignitis Group office in Vilnius | type = State-owned enterprise | fate = | predecessor = Lietuvos energija | successor = | foundation = | founder = | defunct = | traded_as = | ISIN = | location_city = Vilnius | location_country = Lithuania | locations = | area_served = Lithuania Latvia Estonia Poland Finland | key_people = Darius Maikštėnas (CEO) Alfonso Faubel (Chairman of Supervisory Board) | industry = | products = Electric power Heat Natural gas | services = | revenue = | operating_income = | net_income = | assets = | equity = €2.263 billion (2023) | owner = Ministry of Finance | num_employees = | parent = Finance Ministry of Lithuania | divisions = | subsid = Energijos skirstymo operatorius | homepage = | footnotes = 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. | url = https://renewablesnow.com/news/interview-lietuvos-energija-ceo-our-goal-is-international-presence-643637/ | title = Lietuvos Energija CEO: Our goal is international presence | work = Renewables Now | date = 2019-02-20 | accessdate = 2019-02-21}} It is the fifth largest company in the Baltics.

The initial public offering was made on 7 October 2020. | url = https://www.reuters.com/article/uk-ignitis-ipo-idUKKBN26S1FB | title = Shares in Lithuania's Ignitis Group slip in market debut | work = Reuters | date = 2020-10-07 | accessdate = 2021-05-19}} 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. | title = Private Sector Participation in the Power Sector in Europe and Central Asia | publisher = World Bank | year = 2003 | first1 = Venkataraman | last1 = Krishnaswamy | first2 = Gary | last2 = Stuggins | url = https://books.google.com/books?id=GBNnUPUkyv8C&pg=PA73 | pages = 73–74 | isbn = 978-0-8213-5529-9}} 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. | title = Impact of Globalization to Law: New Challenges and New Opportunities. Materials of the international scientific conference | publisher = VMU Press | year = 2009 | url = https://books.google.com/books?id=Bv-EYQSilPMC&pg=PA58 | page = 58 | isbn = 9789955125280}} In 2007, Lietuvos Energija acquired a stake in UAB Geoterma, the owner and operator of the Klaipėda Geothermal Demonstration Plant. | title = Lietuvos Energijos gamyba to acquire Geoterma shares | agency = Baltic Business News | url = http://www.bbn.ee/?PublicationId=ef0bf10c-1140-468a-8c20-fbf4b1f5869c | date = 2007-12-27 | accessdate = 2010-10-29 | archive-url = https://web.archive.org/web/20110905042200/http://www.bbn.ee/?PublicationId=ef0bf10c-1140-468a-8c20-fbf4b1f5869c | archive-date = 2011-09-05 | url-status = dead}}

In 2008, Lietuvos Energija was transferred to newly established energy holding company LEO LT. | url=http://www.lrv.lt/main_en.php?id=en_aktualijos_su_video/p.php&n=601 | archive-url=https://web.archive.org/web/20080305022521/http://www.lrv.lt/main_en.php?id=en_aktualijos_su_video%2Fp.php&n=601 | url-status=dead | archive-date=2008-03-05 | title=Government Approves Establishment of Lithuanian Electricity Organisation LEO LT AB | publisher=Government of the Republic of Lithuania | date=2007-12-20 | accessdate=2008-02-25 | url = https://uk.reuters.com/article/lithuania-energy/lithuania-agrees-merged-energy-firm-for-nuclear-plant-idUKL2048635420071220 | archive-url = https://web.archive.org/web/20190222041928/https://uk.reuters.com/article/lithuania-energy/lithuania-agrees-merged-energy-firm-for-nuclear-plant-idUKL2048635420071220 | url-status = dead | archive-date = February 22, 2019 | title = Lithuania agrees merged energy firm for nuclear plant | first = Nerijus | last = Adomaitis | work = Reuters | date = 2007-12-20 | accessdate = 2010-10-29}} 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. | url = http://www.baltic-course.com/eng/energy/?doc=29144 | newspaper = The Baltic Course | title = Visagino Atomine Elektrine gets Lietuvos Energija shares | first = Petras | last = Vaida | date = 2010-07-14 | accessdate = 2010-10-29}} At the same year, the company acquired Lietuvos Elektrinė, another subsidiary of Visagino Atomine Elektrine. 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. | title = Visagino Atomine Elektrine UAB Consolidated annual report, consolidated and company's financial statements for the year ended 31 December 2012 | publisher = UAB Visagino Atomine Elektrine | url = https://www.le.lt/uploads/files/dir36/dir1/0_0.php | date = 2013-04-08 | accessdate = 2014-11-07}}

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. | title = Energy group restructuring moves forward with election of VAE Supervisory Board | publisher = Lietuvos Energija UAB | url = https://www.le.lt/index.php/news/press-releases/energy-group-restructuring-moves-forward-with-election-of-vae-supervisory-board/761 | date = 2013-07-16 | accessdate = 2019-02-21}}

In October 2017, Lietuvos Energija acquired the Vilnius Combined Heat and Power Plant (Vilnius Power Plant-3) from Vilniaus šilumos tinklai. | url = https://www.lzinios.lt/Ekonomika/jegainems-rezervo-vaidmuo-lietuvai-elektros-importas/280820 | title = Jėgainėms – rezervo vaidmuo, Lietuvai – elektros importas | trans-title = The role for power plants – reserve, for Lithuania – electricity import | newspaper = Lietuvos žinios | date = 2019-01-29 | accessdate = 2019-02-21 | language = lt | archive-url = https://web.archive.org/web/20190129092551/https://www.lzinios.lt/Ekonomika/jegainems-rezervo-vaidmuo-lietuvai-elektros-importas/280820 | archive-date = 2019-01-29 In 2018, Lietuvos Energija bought Lithuanian wind park operators UAB Vejo Vatas and UAB Vejo Gusis with a 34-MW wind portfolio. | url = https://renewablesnow.com/news/lietuvos-energija-finalises-acquisition-of-34-mw-wind-portfolio-in-lithuania-632572/ | title = Lietuvos Energija finalises acquisition of 34-MW wind portfolio in Lithuania | work = Renewables Now | date = 2018-11-07 | accessdate = 2019-02-21}} It also acquired a 50-MW wind park project in Poland. | work = Emerging Europe | first = Shakhil | last = Shah | title = Lietuvos Energija to build wind farm in Poland | url = https://emerging-europe.com/business/lietuvos-energija-to-build-wind-farm-in-poland/ | date = 2018-11-06 | accessdate = 2019-02-21}} | url = https://renewablesnow.com/news/lithuanias-lietuvos-energija-to-buy-50-mw-wind-project-in-poland-632267/ | title = Lithuania's Lietuvos Energija to buy 50-MW wind project in Poland | work = Renewables Now | date = 2018-11-05 | accessdate = 2019-02-21}}

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. | url = https://www.baltictimes.com/lietuvos_energija_becomes_ignitis_group/ | title = Lietuvos Energija becomes Ignitis Group | newspaper = The Baltic Times | date = 2019-09-09 | accessdate = 2020-01-14}}

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. The IPO raised 450€ million EUR capital while the state continues to control a 74.99% controlling share package.

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. 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.

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. 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. It will attempt to identify a partner for the project. This followed Ignitis' win of the first tender in 2023 with a partner.

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. Ignitis plans to invest at least €700 million in solar and wind projects in Latvia. It also plans an investment of €115 million to develop the largest fast-charging network for electric cars in Latvia by 2026.

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

Operations

::figure[src="https://upload.wikimedia.org/wikipedia/commons/5/5b/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. | title = Lietuvos Energija acquires Lietuvos Elektrine shares | newspaper = The Baltic Course | url = http://www.baltic-course.com/eng/energy/?doc=32654 | date = 2010-10-13 | accessdate = 2010-10-29}} Ignitis supplies electricity through Energijos Skirstymo Operatorius AB (100% stake owned by Ignitis Group) and natural gas through Ignitis UAB. Its subsidiary UAB Ignitis Renewables is responsible for the wind and solar energy projects. | title = Regarding the establishment of UAB Lietuvos Energija Renewables | publisher = Lietuvos Energija UAB | url = https://globenewswire.com/news-release/2018/12/31/1679189/0/en/Regarding-the-establishment-of-UAB-Lietuvos-Energija-Renewables.html | date = 2018-12-31 | accessdate = 2019-02-21}} In addition to Lithuania, Ignitis operates in Estonia, Latvia, Poland, and Finland.

References

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::