The European Bank for Reconstruction and Development (EBRD) is strengthening Lithuania’s energy security and green transition with a loan to Ignitis Group as part of a €318m financing package.
The 314MW Kelmė wind farm in western Lithuania will generate around 740GWh of zero-carbon electricity a year-enough to power 250,000 households-making it the largest onshore wind development in the Baltic region.
The financing package also includes contributions from the European Investment Bank, Swedbank, and the Nordic Investment Bank, and will help Ignitis finalise construction of the project.
The new facility supports Ignitis Group’s target of reaching 5GW of installed green generation capacity by 2030, while advancing Lithuania’s national energy and EU climate goals.
Ignitis is the largest electricity supplier in Lithuania and a key player in the Baltic energy market. The EBRD, which became the company’s second-largest shareholder after its 2020 IPO, has previously supported Ignitis’s investment in electricity distribution and e-mobility infrastructure across the region.
Since beginning operations in Lithuania, the EBRD has invested over €1.8bn across 143 projects focused on sustainable infrastructure and the green transition.