The Nordic Investment Bank (NIB) and NORD/LB have joined forces to provide a total of €64 million (US$74.8 million) in financing for two new solar parks in Lithuania developed by Green Genius—with NIB contributing €28 million (US$32.7 million) and NORD/LB providing €36 million (US$42 million).
The investment will support the development of two new 91 MWp solar parks located in Izabelinė (Ignalina municipality) and Lieponys (Trakai district). The Izabelinė facility will also feature an 18 MW battery energy storage system (BESS) to enhance grid integration and optimize the use of renewable energy. Combined, the two plants are expected to produce approximately 100 GWh of green electricity each year, avoiding around 67,000 tonnes of CO₂ emissions annually.
Construction is scheduled to start in August 2025, with both sites targeted to begin commercial operations by July 2027. Green Genius, which holds a renewable energy portfolio of about 2.7 GW, has set up two special-purpose vehicles—UAB GG LTU S5 and UAB GG LTU S9—to manage the construction and operation of the respective projects.
Country updates
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July 28, 2025
Final turbine due to be installed at 87 MW Kelme 2 wind farm project in Lithuania
Enefit Green has prepared for the installation of the final turbine at its Kelme 2 wind farm project in Lithuania. The main crane has been moved into position to install the last turbine at the ...
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June 10, 2025
Baltics’ Wind Farm Reaches Full 314 MW Capacity, Powering 250,000 Homes in Lithuania
Ignitis Renewables has commenced full commercial operations of the 314 MW Kelmė wind energy project in Lithuania. The Kelmė wind farm stands as the largest onshore wind facility in both Lithuania and...
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June 04, 2025
European Energy secures US$ 165 million long-term loan for Lithuanian renewable energy and battery portfolio
European Energy, a Danish renewable energy developer, has secured a EUR 145 million (US$ 165 million) long-term loan from SEB Lithuania and Swedbank Lithuania. This financing will support the continu...
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September 10, 2024
Enefit Green's installed power generation capacity increased to 1 GW
Enefit Green's installed production capacity has reached 1 GW, following the opening of the Silalė II wind park in Lithuania, completing the Akmenė wind farm, progressing with the Kelmė I and II proje...
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April 11, 2024
First turbine installed for 63 MW Onshore wind farm in Lithuania
Green Genius has installed the first turbine for its 63 MW Jurbarkas onshore wind farm in the Jurbarkas district, Lithuania. It features eleven N163/5.X turbines which sit on 159 m towers. ...
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