- The EBRD granted a €79.5m loan to Ignitis Group as part of a €318m package to build Lithuania’s 314MW Kelmė wind farm, the largest in the Baltics.
- The project will generate 740GWh of clean power yearly, supplying 250,000 homes and strengthening Lithuania’s energy security and green transition.
The European Bank for Reconstruction and Development (EBRD) has approved a €79.5 million loan to Lithuania’s Ignitis Group as part of a €318 million financing package to construct the Kelmė onshore wind farm, which will be the largest in the Baltic region.
The financing consortium includes the European Investment Bank (EIB), Swedbank, and the Nordic Investment Bank (NIB). The funds will support the completion of the 314-megawatt project in western Lithuania.
Once operational, the Kelmė wind farm is expected to generate about 740 gigawatt-hours of zero-carbon electricity each year, enough to power roughly 250,000 Lithuanian households. In addition, the project will strengthen the country’s energy security, reduce reliance on fossil fuels, and advance its green transition in line with European Union climate targets.
Ignitis Group, Lithuania’s largest electricity supplier, aims to achieve 5 gigawatts of installed renewable capacity by 2030. The EBRD, which became the company’s second-largest shareholder following its 2020 initial public offering, has supported several of Ignitis’s renewable and infrastructure projects across the Baltic states, including power distribution modernisation and electric mobility initiatives.
Since commencing operations in Lithuania, the EBRD has invested more than €1.8 billion in 143 projects, with a strong focus on sustainable energy and infrastructure development.