Lithuanian utility Ignitis Group has obtained a €20.7 million (USD 22.4 million) loan to refinance the liabilities of its subsidiary responsible for a 24-MW wind farm located in the Jurbarkas district.
The financing agreement was signed with Swedbank AB, with the funds earmarked for EURAKRAS, the subsidiary managing the project.
“The green financing agreement that Ignitis Group has signed enables us to continue rapid investments into renewable energy projects while maintaining healthy financial performance indicators, which allows us to generate consistent returns,” said Jonas Rimavicius, CFO of Ignitis Group.
The company boasts a green capacity portfolio of 7.7 GW and is actively constructing 1 GW of renewable energy projects across Lithuania, Latvia, and Poland.
