EBRD backs largest onshore wind farm in the Baltic region

The Bank’s loan, provided as part of a landmark €318 million financing package, which also includes the European Investment Bank (EIB), Swedbank, and Nordic Investment Bank (NIB), will enable Ignitis to finalise the implementation of its 314-megawatt (MW) wind farm in Kelmė, in western Lithuania.

The Kelmė wind farm is the largest onshore wind farm in the Baltic region, generating 740 GWh of zero-carbon electricity annually - enough to power 250,000 Lithuanian households. It advances Ignitis’s goal of achieving up to 5 gigawatts (GW) of installed green generation capacity by 2030, contributes to Lithuania’s national energy needs, and supports the European Union climate goals.

Ignitis is Lithuania’s largest electricity supplier and a pivotal energy player in the Baltic region. The EBRD is the company’s second largest shareholder following its initial public offering in 2020. The EBRD also supported the company’s investment programme for electricity distribution network in Lithuania as well as its electric mobility infrastructure across the Baltic region.

Since the start of its operations in Lithuania, the EBRD has invested more than €1.8 billion in the country across 143 projects, with a strong focus on sustainable infrastructure and the green transition.

As reported previously, the European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to €5 million to the Global Export Company, one of the leading exporter of agricultural commodities in Uzbekistan, to support the company’s strategic shift from traditional commodity trading to processing operations that add value.