European Energy and EIG Global Energy Partners have closed a €130m facility for green energy construction.
The Portfolio Construction Facility will start financing wind farms in European Energy’s growing renewables business in Lithuania.
European Energy has started the construction of more than 300MW in Lithuania in 2021 and has a development pipeline exceeding 1GW in the country.
The facility is multi-jurisdictional, meaning it may later be applied to finance projects in other countries and markets.
European Energy chief executive Knud Erik Andersen said: “This financing is a milestone for European Energy and it is an essential step towards having the freedom to choose the right and value optimized solutions for renewable energy solutions across the markets that we operate.”
EIG managing director Simon Hayden said: “EIG is delighted to provide this flexible form of construction financing to support European Energy’s global growth plans in renewables.”