Aquila Clean Energy EMEA, the renewable energy division of the German investment management firm Aquila Group, has been awarded a green loan of EUR 125 million (USD 136.1 million) to develop a 99.2-MW wind farm in northern Lithuania.
The financing will be provided by Swedish banking group Skandinaviska Enskilda Banken AB (SEB), as announced in a statement from the lender on Monday.
The wind farm, named Akmene Two, will feature 16 turbines, each with a capacity of 6.2 MW, and is expected to commence operations in 2026.
Tadas Jonusauskas, head of corporate banking at SEB Lithuania, highlighted that the project is “one of the bank's most important transactions in Lithuania recently” and noted that it represents the largest wind project in the country in terms of electricity generation.
Akmene Two will be the second wind farm developed by Aquila Clean Energy in northern Lithuania. The first, Akmene One, has a capacity of 74.4 MW and was also financed by SEB.
The new projects support Lithuania's goal of transitioning to 100% renewable electricity by 2050. In 2023, Lithuania generated approximately 4 TWh of renewable energy, accounting for 70% of its total electricity production, with wind farms contributing about 2.5 TWh, a 66.8% increase from the previous year.
