On the decision of General Court of the European Union to annul the decision of European Commission to coordinate aid scheme for renewable energy projects
AB “Ignitis grupė” (hereinafter – the Company) informs that on 14 April 2021 General Court of the European Union adopted a decision to annul the decision of European Commission to coordinate aid scheme for renewable energy projects implemented by the Republic of Lithuania (hereinafter – the Scheme).
Currently, the Company’s subsidiaries UAB “Vėjo vatas”, UAB “Vėjo gūsis” and UAB “Eurakras” are receiving feed-in tariffs according to the provisions of the Scheme.
Based on current market practice, after the General Court of the European Union annuls the coordinated Scheme, an in-depth investigation will be potentially launched in respect of the utilisation of the Scheme (hereinafter – the Investigation), which may take several years. The Company notes that the decision to annul the decision of the European Commission to coordinate the Scheme does not constitute a negative decision on the utilisation of the Scheme in the Republic of Lithuania.
The Company is not a party of the Investigation which will be potentially launched, therefore, the Company will announce publicly about the progress of the Investigation only if the information disclosed publicly during investigation that is accessible by the Company is relevant to investors.
Based on the information currently available to the Company, the ongoing processes in respect of annulling the Scheme should not have significant effect on the financial results of the Group companies.
For more information please contact:
Head of Public Relations at Ignitis Group
+370 620 76076