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{{Infobox company
| 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 = {{lse|IGN}}
| ISIN = {{Unbulleted list|{{ISIN|sl=n|pl=y|XS1646530565}}|{{ISIN|sl=n|pl=y|XS1853999313}}}}
| 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)<ref name=Ignitis>{{cite news | url = https://ignitisgrupe.lt/sites/default/files/public/2024-02/Integrated%20Annual%20report%202023.pdf | title = Ignitis, Integrated annual report 2023 | language = EN}}</ref>
| owner = [[Ministry of Finance (Lithuania)|Ministry of Finance]]
| num_employees =
| parent = [[Ministry of Finance (Lithuania)|Finance Ministry of Lithuania]]
| divisions =
| subsid = [[Energijos skirstymo operatorius]]
| homepage = {{url|ignitisgrupe.lt/}}
| 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.<ref name="renewablenow200219">
{{cite news
| 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}}
</ref> It is the fifth largest company in the [[Baltics]].<ref>{{Cite web |title=Only six Latvian companies among 50 biggest in Baltic |url=https://eng.lsm.lv/article/economy/business/14.12.2023-only-six-latvian-companies-among-50-biggest-in-baltic.a535370/ |access-date=2025-01-08 |website=eng.lsm.lv |language=en}}</ref>

The [[initial public offering]] was made on 7 October 2020.<ref>
{{cite web
| 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}}
</ref> 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]].<ref name=krishnaswamy>
{{cite book
| 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}}
</ref> 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.<ref name=vmu>
{{cite book
| 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}}
</ref> In 2007, Lietuvos Energija acquired a stake in UAB Geoterma, the owner and operator of the [[Klaipėda Geothermal Demonstration Plant]].<ref name="bbn271207">
{{cite news
| 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}}
</ref>

In 2008, Lietuvos Energija was transferred to newly established energy holding company [[LEO LT]].<ref name=vmu/><ref name=government>
{{cite press release
| 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
}}
</ref><ref name="reuters201207">
{{cite news
| 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}}
</ref> 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]].<ref name="bc140710">
{{cite news
| 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}}
</ref> At the same year, the company acquired Lietuvos Elektrinė, another subsidiary of Visagino Atomine Elektrine.<ref name="bc131010" /> 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.<ref>
{{cite report
| 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}}
</ref>

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.<ref name=le160713>
{{cite press release
| 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}}
</ref>

In October 2017, Lietuvos Energija acquired the [[Vilnius Combined Heat and Power Plant]] (Vilnius Power Plant-3) from Vilniaus šilumos tinklai.<ref name=lz290119>
{{cite news
| 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
}}
</ref> In 2018, Lietuvos Energija bought Lithuanian wind park operators UAB Vejo Vatas and UAB Vejo Gusis with a 34-MW wind portfolio.<ref name=renewablenow071118>
{{cite news
| 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}}
</ref> It also acquired a 50-MW wind park project in Poland.<ref name=ee061118>
{{cite news
| 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}}
</ref><ref name=renewablenow051118>
{{cite news
| 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}}
</ref>

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.<ref name=bt090919>
{{cite news
| 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}}
</ref>

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.<ref>{{Cite web |title=Biržā sāk Lietuvas valsts uzņēmuma «Ignitis Group» akciju tirdzniecību |url=https://www.lsm.lv/raksts/zinas/ekonomika/birza-sak-lietuvas-valsts-uznemumaignitis-group-akciju-tirdzniecibu.a377077/ |access-date=2025-01-08 |website=www.lsm.lv |language=lv}}</ref> The IPO raised 450€ million EUR capital while the state continues to control a 74.99% controlling share package.<ref>{{Cite web |title="Ignitis grupė" įvykdė IPO – kas tai ir kodėl vadinama dešimtmečio sandoriu |url=https://www.delfi.lt/a/85418659 |access-date=2023-01-13 |website=DELFI |language=lt}}</ref>

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]].<ref>{{Cite web |title=Ownership rights of all Ignitis Gamyba shares have been transferred to Ignitis Group |url=https://view.news.eu.nasdaq.com/view?id=b22af90235cdb7ab63387527b7da29119&lang=en |access-date=2023-01-13 |website=view.news.eu.nasdaq.com}}</ref> 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.<ref>{{Cite web |title=Lithuania to transfer equipment from Vilnius TPP-3 to Ukraine |url=https://english.nv.ua/nation/ukraine-will-receive-equipment-from-vilnius-tpp-3-from-lithuania-50435019.html |access-date=2025-01-08 |website=New Voice |language=en}}</ref>

=== 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 [[List of offshore wind farms in the Baltic Sea|Liivi 1 and Liivi 2 areas]] for Estonia in the [[Baltic Sea]].<ref>{{Cite web |last=Buljan |first=Adrijana |date=2024-01-17 |title=CIP, Ignitis to Build Both of Estonia's Offshore Wind Farms, Plan to Combine Sites Into Single Project |url=https://www.offshorewind.biz/2024/01/17/cip-ignitis-to-build-both-of-estonias-offshore-wind-farms-plan-to-combine-sites-into-single-project/ |access-date=2024-11-20 |website=Offshore Wind |language=en-US}}</ref><ref>{{Cite web |date=2023-12-14 |title=Copenhagen Infrastructure and Ignitis score in Estonian wind tender |url=https://www.energyglobal.com/wind/14122023/copenhagen-infrastructure-and-ignitis-score-in-estonian-wind-tender/ |access-date=2024-11-20 |website=Energy Global |language=en}}</ref> 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.<ref>{{Cite web |date=2024-10-15 |title=„Ignitis grupė“ dalyvaus antrajame jūrinio vėjo konkurse |url=https://www.lrt.lt/naujienos/verslas/4/2386557/ignitis-grupe-dalyvaus-antrajame-jurinio-vejo-konkurse |access-date=2025-01-08 |website=lrt.lt |language=lt}}</ref> It will attempt to identify a partner for the project.<ref>{{Cite web |last=Lepic |first=Bojan |date=2024-10-16 |title=Ignitis looking for partner in Lithuania's second offshore wind round |url=https://splash247.com/ignitis-looking-for-partner-in-lithuanias-second-offshore-wind-round/ |access-date=2025-01-08 |website=Splash247 |language=en-GB}}</ref> This followed Ignitis' win of the first tender in 2023 with a partner.<ref>{{Cite web |date=2024-09-13 |title=Maikštėnas: „Ignitis“ svarsto dalyvauti antrajame jūrinio vėjo parko aukcione |url=https://www.lrt.lt/naujienos/verslas/4/2359666/maikstenas-ignitis-svarsto-dalyvauti-antrajame-jurinio-vejo-parko-aukcione |access-date=2025-01-08 |website=lrt.lt |language=lt}}</ref><ref>{{Cite web |date=2023-03-22 |title=„Ignitis grupė“ ketina investuoti 700 mln. eurų į saulės ir vėjo projektus Latvijoje |url=https://www.lrt.lt/naujienos/verslas/4/1944071/ignitis-grupe-ketina-investuoti-700-mln-euru-i-saules-ir-vejo-projektus-latvijoje |access-date=2025-01-08 |website=lrt.lt |language=lt}}</ref>

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|Bauksa]].<ref>{{Cite web |title=Lithuanian Ignitis Renewables to invest in Latvia's solar energy |url=https://eng.lsm.lv/article/economy/economy/21.02.2024-lithuanian-ignitis-renewables-to-invest-in-latvias-solar-energy.a543734/ |access-date=2025-01-08 |website=eng.lsm.lv |language=en}}</ref> Ignitis plans to invest at least €700 million in solar and wind projects in Latvia.<ref>{{Cite web |date=2023-03-22 |title=„Ignitis grupė“ ketina investuoti 700 mln. eurų į saulės ir vėjo projektus Latvijoje |url=https://www.lrt.lt/naujienos/verslas/4/1944071/ignitis-grupe-ketina-investuoti-700-mln-euru-i-saules-ir-vejo-projektus-latvijoje |access-date=2025-01-08 |website=lrt.lt |language=lt}}</ref><ref>{{Cite web |title=Lietuvas enerģētikas uzņēmums «Ignitis» plāno Latvijā investēt 700 miljonus eiro |url=https://www.lsm.lv/raksts/zinas/ekonomika/21.03.2023-lietuvas-energetikas-uznemums-ignitis-plano-latvija-investet-700-miljonus-eiro.a501770/ |access-date=2025-01-08 |website=www.lsm.lv |language=lv}}</ref> It also plans an investment of €115 million to develop the largest fast-charging network for electric cars in Latvia by 2026.<ref>{{Cite web |title=Lietuvas «Ignitis» elektroauto uzlādes tīkla izveidē Latvijā plāno ieguldīt 115 miljonus eiro |url=https://www.lsm.lv/raksts/zinas/ekonomika/13.05.2024-lietuvas-ignitis-elektroauto-uzlades-tikla-izveide-latvija-plano-ieguldit-115-miljonus-eiro.a553820/ |access-date=2025-01-08 |website=www.lsm.lv |language=lv}}</ref>

The company manages investment in renewable energy through its subsidiary, Ignitis Renewables.<ref>{{Cite web |date=2024-05-23 |title=Baigusi VKJ statybą „Ignitis grupė“ inicijuos 49 proc. akcijų pardavimą |url=https://www.lrt.lt/naujienos/verslas/4/2280687/baigusi-vkj-statyba-ignitis-grupe-inicijuos-49-proc-akciju-pardavima |access-date=2025-01-08 |website=lrt.lt |language=lt}}</ref>

==Operations==

[[File:Energy of Lithuania.JPG|thumb]]

Ignitis Gamyba (100% stake owned by Ignitis Group) owns the [[Elektrėnai Power Plant]], the [[Kruonis Pumped Storage Plant]] and the [[Kaunas Hydroelectric Power Plant]].<ref name="bc131010">
{{cite news
| 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}}
</ref><ref name=lz290119/> Meanwhile, the Vilnius Combined Heat and Power Plant is 100% owned directly by Ignitis Group.<ref>{{cite web | url=https://old.ignitisgrupe.lt/en/vilniaus-kogeneracine-jegaine-uab | title=Vilniaus kogeneracinė jėgainė UAB (En) | Ignitis grupė }}</ref> Ignitis supplies electricity through Energijos Skirstymo Operatorius AB (100% stake owned by Ignitis Group)<ref>{{cite web | url=https://old.ignitisgrupe.lt/en/energijos-skirstymo-operatorius-ab | title="Energijos skirstymo operatorius" AB (En) | Ignitis grupė }}</ref> and natural gas through Ignitis UAB. Its subsidiary UAB Ignitis Renewables is responsible for the wind and solar energy projects.<ref name=le311218>
{{cite press release
| 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}}
</ref> In addition to Lithuania, Ignitis operates in Estonia, Latvia, Poland, and Finland.<ref name="bc131010"/>

==References==
{{reflist}}

==External links==
* {{official website|www.ignitisgrupe.lt/en}}

{{authority control}}

[[Category:Electric power companies of Lithuania]]
[[Category:Natural gas companies of Lithuania]]
[[Category:Companies based in Vilnius]]
[[Category:Energy companies established in 1991]]
[[Category:Non-renewable resource companies established in 1991]]
[[Category:1991 establishments in Lithuania]]
[[Category:Companies listed on Nasdaq Vilnius]]
[[Category:Companies in the OMX Baltic 10]]
[[Category:Government-owned energy companies]]
[[Category:Government-owned companies of Lithuania]]

Ignitis - Revision history

imported>W: +From Wikidata