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.

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.

[7] In 2007, Lietuvos Energija acquired a stake in UAB Geoterma, the owner and operator of the Klaipėda Geothermal Demonstration Plant.

[8] In 2008, Lietuvos Energija was transferred to newly established energy holding company LEO LT.[7][9][10] 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.

[11] At the same year, the company acquired Lietuvos Elektrinė, another subsidiary of Visagino Atomine Elektrine.

[24][25] 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.

[31][32] It also plans an investment of €115 million to develop the largest fast-charging network for electric cars in Latvia by 2026.

[12][15] Meanwhile, the Vilnius Combined Heat and Power Plant is 100% owned directly by Ignitis Group.