Ignitis Group Sells 49% Stake in Vilnius Cogeneration Plant to Quaero Capital for €120 Million
Ignitis Group will sell a 49% stake in the Vilnius cogeneration plant to Quaero Capital for 120 million euros. The sale, part of a European Commission requirement linked to a 138 million euro aid package, is expected to close in Q2 2026, pending regulatory approvals. Ignitis Group also sold a share to Miesto Gijos. The project aims to enhance energy efficiency and reduce heating costs in Vilnius.
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Ignitis Group is selling a 49% stake in the Vilnius cogeneration plant to Quaero Capital for 120 million euros, with the transaction expected to close in Q2 2026, subject to regulatory approvals. This sale meets a European Commission condition tied to a 138 million euro state aid granted for the project.
The investment by Quaero Capital is seen as significant for Lithuania's energy infrastructure. Additionally, Ignitis sold one share to Miesto Gijos. The group plans to sell minority stakes of up to 49% in the Vilnius plant and other renewable energy companies it controls, following the completion of a biofuel unit in May 2024.
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