AB Ignitis Grupė subsidiary UAB Ignitis Renewables has signed an agreement with Nordex Energy SE & Co. KG regarding the turbine supply, construction, and maintenance services. The services will be provided for the development of wind farms in Mažeikiai region (hereinafter – Mažeikiai wind farm) overseen by VVP Investment.
The project will consist of 14 wind turbines and will be installed in Mažeikiai wind farm with a total operational capacity of 63 MW. Construction is estimated to be completed before the end of 2022. According to the agreement, Nordex Energy SE & Co. KG will perform service and maintenance of the wind farm for 15 years after its construction.
The developer of Mažeikiai wind farm, VVP Investment, is owned by the Group since the end of 2018. Total planned investments into this project amount to over EUR80 million (US$95.24 million). The total cost of turbines, construction works as well as maintenance service agreement will amount to EUR 77.5 million (US$92.26 million), excluding VAT.
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