Ignitis Group, the Lithuanian state-controlled energy utility, has published its Strategic Plan for 2026–2029, targeting EUR 2.5–3.0 billion in total investment. The plan marks a shift from rapid renewable capacity expansion towards what the company calls a value-over-volume approach, with a dual focus on green flexibility technologies and distribution network resilience. The group’s installed green capacity stood at 2.1 GW at the close of 2025, up from 1.2 GW three years earlier.
Around 55% of planned investment — EUR 1.4–1.6 billion — will go to the electricity distribution network, while roughly 40% is directed at growing renewable and flexibility capacity from 2.1 GW to 2.8–3.2 GW by 2029. Energy storage and grid-balancing solutions will play a more prominent role than in previous cycles. Data centres have been identified as an additional growth avenue. “Over the 2026–2029 period, we put our strategic focus on green flexibility and networks while adopting a value-over-volume approach,” said CEO Darius Maikštėnas.
Ignitis Group is one of the largest renewable energy developers in the Baltic states, with operations spanning Lithuania, Latvia, and Estonia. The strategy comes as the region deepens its integration with continental European grid infrastructure following the Baltic states’ desynchronisation from the Russian-Belarusian power ring in early 2025, increasing demand for locally generated flexible capacity.
The company targets adjusted EBITDA of EUR 640–700 million by 2029, average adjusted ROCE of 6.5–7.5%, and a maintained investment-grade credit rating of BBB or above. A dividend floor of at least EUR 1.54 per share has been reconfirmed for the 2029 financial year. In the first quarter of 2026, Ignitis reported adjusted EBITDA of EUR 192.2 million, a 2% year-on-year increase, supported by stronger network and customer solutions performance.
