<img src="https://ml-eu.globenewswire.com/Resource/Download/49767d7a-f72c-43e4-92d5-655cc3c7dbbb?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Ignitis_grupe_color-01.jpg" alt="Ignitis grupe"/>AB “Ignitis grupė” (hereinafter – the Group) informs that on 21 July, the Group’s subsidiary UAB “Ignitis renewables” (hereinafter – Ignitis Renewables) made a final investment decision on a 107.2 MW power and 214.5 MWh storage capacity battery energy storage system (hereinafter – Tume BESS) in Latvia. Tume BESS will be integrated with 173.6 MW Tume solar farm, which is currently under construction by Ignitis Renewables and located in Tukums municipality in Latvia. Tume BESS will use the same connection and infrastructure to the power grid. The construction works on Tume BESS are expected to start in 2026, and the COD is estimated for 2028. The total investment amount is approximately EUR 35 million. The Group is currently developing a 291 MW BESS project portfolio in Lithuania (<a href="https://www.globenewswire.com/Tracker?data=myxT-X_dHY6uPTIoIh5KbC22ZClxgLOimYaCoxtKv0T66VQRdVWKrpzCtNfMhQisJ-9wwgQ5vKhUKwt9Qct2JS5AYC1ZBx-LNieaFTD5N3WP9XxTASnHVzDGq0nvnagkKd9PNkBv1_HmK1qWbQ9UEAJYwY_mpwH3ffXQUSCnKL4=" rel="nofollow" target="_blank" title="link">link</a>) to support the integration of renewables by helping respond to the changes in electricity demand, increasing the reliability of the network and reducing generation curtailment. For further details about the Group’s strategic priorities, see the Group’s Strategic Plan 2026–2029 (<a href="https://www.globenewswire.com/Tracker?data=myxT-X_dHY6uPTIoIh5KbJ2iStNTduM1XOqGJ_D6P5E-NlGIT54ujq3NnwV8JcINb6W0zaHi3IS2SUM8hiVtuLGEynb9rw5vQQACw9bz7h4=" rel="nofollow" target="_blank" title="link">link</a>). The information provided in this announcement does not affect the Group’s Adjusted EBITDA and Investments guidance for 2026. For additional information, please contact: Communications Valdas Lopeta +370 621 77993 <a href="https://www.globenewswire.com/Tracker?data=ya9_yP_wjO96Zpmri2ciJc1PswdJX1Os_5eFPjqJDTPS5JPfz-4RRGFi_Up2ioyb6qNxcyZuSmjIEzZ580lcEJrIGODQK_ql2V-XwXHQDnIdkF4ip_uv9CqXmeGgGO2m" rel="nofollow" target="_blank" title="valdas.lopeta@ignitis.lt">valdas.lopeta@ignitis.lt</a> <img alt="" src='https://ml-eu.globenewswire.com/media/NGIxZWNmZjEtYWRkMS00YzY3LThiNWMtMzU5OGUzNDIyYmIzLTExMDE5NDUtMjAyNi0wNy0yMS1lbg==/tiny/Ignitis-grupe.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Ignitis Group makes final investment decision on 107.2 MW Tume BESS in Latvia

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn