OP Corporate Bank, which is part of Finland’s OP Financial Group, has lent EUR 19.3 million to Ignitis Renewables, which is a subsidiary of Lithuania’s state-owned energy group, Ignitis Group. The funding will be used to develop solar and wind farms in western Lithuania.
“Our strategic goal is to have 4-5 gigawatts of green capacity online by 2030,” Ignitis Group CEO Jonas Rimavicius said in a corporate statement. “This would not be possible without green financing contracts that enable our renewable energy products.”
Ignitis Group already operates 7.7 GW of green power generation capacity in the Baltic States and Poland, of which nearly 1 GW is still under construction.
Ignitis Renewables is currently developing two wind farms in Kelme. It also owns a solar farm in Taurage and wind farms in Mazeikiai, Jurbarkas, Kretinga and Taurage.
Source: BNS
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