A London-based bank has announced a loan of €79.5 million (£69m) to support an onshore wind farm in Lithuania.
The loan from the European Bank for Reconstruction and Development (EBRD) will back the Kelme wind farm, which is expected to be the largest project of its kind in the Baltic region.
Ignitis’ 314MW will farm is estimated to generate enough green electricity to power around 250,000 households a year.
The financing – part of a landmark €318 million (£277m) package, which also includes the European Investment Bank (EIB), Swedbank and Nordic Investment Bank (NIB) – will enable Ignitis to finalise the implementation of the wind farm.
The project will advance the company’s goal of achieving up to 5GW of installed green energy capacity by 2030.
London-based bank lends €79.5m for wind farm in Lithuania appeared first on Energy Live News.