Financing agreement signed for 63 MW onshore wind farm in Lithuania
The European Investment Bank (EIB), Nordic Investment Bank (NIB) and UAB VVP Investment, part of Ignitis Group, have signed a financing agreement for the 63 MW Mažeikiai onshore wind farm in Lithuania.
The EIB and NIB have extended loans for the wind farm, each providing EUR32 million (USD 34.8 million), forming part of the overall investment of approximately EUR85 million (USD 92.5 million). Citi will assume the responsibilities of agent, security agent, and account bank in this transaction. Operational since August 2023, the 63 MW wind farm comprises 14 turbines, with a collective estimated energy production capacity exceeding 200 GWh annually.
Situated in the north-northwest of Lithuania, near the Latvia border, the wind farm is seamlessly integrated into the national grid and avoids 61,000 tonnes of CO2 per year.
Country news
-
-
August 08, 2023
Agreement signed for maintenance of 200 MW/200 MWh battery energy storage system in Lithuania
Enersense International Plc has entered into an agreement with Fluence Energy GmbH for the maintenance of battery energy storage system (BESS) in Lithuania.
Read more -
June 04, 2021
Final investment decision made for 700 MW Transmission link project in Poland
PSE and Litgrid, the transmission system operators of Poland and Lithuania, have made final investment decisions regarding the implementation phase of the Harmony Link interconnector project - a submarine power line between Poland and Lithuania.
Read more -
August 05, 2019
3.35 GW of offshore wind potential in Lithuania
A study conducted by Marine Research Institute of Klaipeda University on behalf of the Ministry of Energy in Lithuania has identified up to 3.35 GW of offshore wind energy capacity that could be built in its waters. The work undertaken by the university will help the government to formulate an offshore wind development plan.
Read more -
June 01, 2018
Eesti Energia agrees to third largest acquisition in history of Estonia
Eesti Energia AS has announced that its fully owned subsidiary Enefit Green AS has entered into a share purchase agreement regarding all the shares in Nelja Energia AS, a renewable energy producer and developer in the Baltic region of Europe.
Read more -
January 26, 2018
European Commission backs 88 MW CHP project in Vilnius
The European Commission's Cohesion Fund has granted funding for a combined heat and power (CHP) project in Vilnius, the capital of Lithuania, in the south-east of the country. The project is being developed by Lietuvos Energija, who expect the CHP plant to produce 87.6 MW of electricity and 227 MW of heat.
Read more
