Ignitis Group is aiming to meet the needs of communities better while developing green energy projects

Survey conducted through April–May* showed that 76% of respondents believe that development of on-shore wind energy projects should be increased in Lithuania. However, at the same time it was noted that development of wind powerplants in close proximity to the environment of respondents would raise more issues – 33% of respondents would welcome it. Respondents mentioned an opportunity to pay less for energy or to receive some form of financial compensation as key factors that would encourage them to support wind energy development more. A need of comprehensive information as well as an effort to ensure minimum impact on the environment were also mentioned.

Ignitis Group’s local community engagement model now mainly focuses on close and consistent bilateral communication with the communities. Considering the needs of the latter, various activities related to education about the energy sector, tours of objects managed by Ignitis Group, etc., are being offered.

In the last couple of years neither of the Group companies granted any financial support. However, considering the impact on the communities and their expressed needs in respect of financial support for various cultural and infrastructure community projects, this opportunity was discussed by the governance bodies of the Group again. It was decided that only Ignitis Renewables and its subsidiaries will be able to grant financial support when implementing their green energy development projects.

“Focused and sustainable growth of green generation is established in Ignitis Group’s strategy. It is impossible without long-term strong neighborhood relationships with the communities where we are operating. New engagement model will strengthen the culture of transparency and openness, and will allow to consider the interests of communities even more by granting financial support in a unified and consistent manner for their justified needs”, said Aleksandr Spiridonov, General Manager at Ignitis Renewables.

The first invitation to submit applications for financial support is estimated to be announced in June. Communities both in Lithuania and abroad will be able to submit the applications as long as Ignitis Renewables or its subsidiaries operate nearby. The received applications will be evaluated by the committee formed from employees of the Group according to an established methodology, granting of financial support will be approved by the Management Board of Ignitis Renewables. After completing the projects, communities will have to submit their implementation report.

Financial support will be granted only from the profit earned by Ignitis Renewables and its subsidiaries. The share of profit allocated for financial support will be decided by the general meeting of shareholders of the specific company, considering the profit earned in the reporting year and the implemented projects.

Group Financial Support Policy, Financial Support Management Rules and other related documents are available on Ignitis Group website at www.ignitisgrupe.lt/bendruomenes.

Previously active financial support fund, which was operating nation wide and was not creating sufficient added value to the communities close to the Group, has stopped granting financial support since 2018 and is currently in process of liquidation.

* Representative opinion survey of Lithuanian residents was performed by UAB “Rinkos tyrimų centras”, commissioned by UAB “Ignitis renewables”, during April–May 2021. During the survey, residents of 18–75 years of age from across Lithuania were surveyed. There were 1,233 participants in the survey.