Mediaboss Marketing

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 grup (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 Companys subsidiaries UAB Vjo vatas, UAB Vjo gsis 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:

Artras KetleriusHead of Public Relations at Ignitis Grouparturas.ketlerius@ignitis.lt+370 620 76076

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On the decision of General Court of the European Union - GlobeNewswire