Regarding the updated Letter of Expectations of the Ministry of Finance received by AB “Ignitis grupė”

Summary by AI ^BETAClose X

AB “Ignitis grupė” has received an updated Letter of Expectations from the Ministry of Finance of Lithuania, which holds 74.99% of its shares, outlining continued strategic directions and new priorities. The expectations include maintaining Green Capacities and Networks, ensuring energy resilience, progressing offshore wind projects, and achieving net zero emissions by 2050. Financial targets are set with Net Debt/Adjusted EBITDA expected to remain below 5x, a BBB credit rating, Adjusted ROCE of at least 6.5%, and annual dividend growth of at least 3%. New priorities focus on developing new business models to attract energy-intensive businesses like data centres, assessing Green Capacity development based on market conditions and required returns, preparing viable scenarios for the Curonian Nord offshore wind farm, and increasing operational efficiency.

Disclaimer*

AB “Ignitis grupė” (hereinafter – the Group) informs that on 9 March 2026 it received the updated Letter of Expectations (hereinafter – the Letter of Expectations) of the Ministry of Finance of the Republic of Lithuania, which holds 74.99% of the shares of the Group. It expresses the expectation of continuity of strategic directions and sets new priorities.

The Letter of Expectations expresses expectations regarding the continuity of the strategic directions, including expectations for:

sustainable development and maintenance of Green Capacities and Networks;
energy resilience and security;
offshore wind projects in Lithuania;
asset rotation program;
good governance practices;
positive customer experience;
net zero emissions by 2050;
Net Debt/Adjusted EBITDA <5x and ≥BBB credit rating;
Adjusted ROCE ≥6.5%;
annual dividend growth ≥3%.

The Letter of Expectations also sets out new priorities, including expectations on:

new business models to increase energy demand and to attract businesses with high energy demand to Lithuania, giving priority to data centres;
analysis and assessment of the possibilities for the development of Green Capacities, taking into account the ratio of electricity supply and demand, its potential in the market and investment in their development, provided that the required return is ensured (after developing projects until they receive a construction permit or are in a stage close to it, further significant investments may be made only if the projects meet the required return on investment);
preparation of possible further scenarios for the development of the Curonian Nord offshore wind farm with proposed alternative solutions that could ensure that the project will be economically viable;
increasing operational efficiency in existing operational activities.

The updated Letter of Expectations is available in the attached document.

More information:

Communication
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt

Attachment