We advised entities of Ignitis Group on signing the project financing agreements and securing EUR 318 million in funding for the 314 MW Kelmė Wind Farm. This is the largest project of its kind in the Baltic States, controlled by Ignitis Renewables, a subsidiary of Ignitis Group.
The loan agreements were concluded between Vėjas LT UAB, Windlit UAB – subsidiaries of – and a group of lenders comprising the European Investment Bank, Swedbank, the European Bank for Reconstruction and Development, and the Nordic Investment Bank.
The total investment in the project, including the acquisition price and construction costs, will amount to up to EUR 550 million.
The Kelmė Wind Farm, consisting of two separate stages, is the largest operational wind farm in the Baltic States, with a total capacity of 314 MW. The electricity generated by the wind farm will cover the energy needs of approximately 250,000 Lithuanian households.
Our team and services
We advised the client on all legal matters governed by Lithuanian law related to the transaction financing.
The team was led by partner Augustas Klezys and included partner Indrė Ščeponienė, experts Vitalija Impolevičienė and Karolis Kunigėlis, senior associate Sandra Aleksandravičienė, and associate Dominykas Kulakas.
