The European Bank for Reconstruction and Development ( EBRD ) is lending €79.5 million ( US$92.7 million ) to Ignitis Group, a Lithuanian integrated energy utility company active across the Baltic states and Poland.

The loan is part of a €318 million financing package, in which the European Investment Bank ( EIB ), Swedbank, and Nordic Investment Bank ( NIB ) are also participating.

The deal will enable Ignitis to finalize the implementation of its 314-megawatt wind farm in Kelmė, western Lithuania.

The Kelmė wind farm is the largest onshore wind farm in the Baltic region, generating 740 gigawatt-hours of zero-carbon electricity annually, enough to power 250,000 Lithuanian households.

It advances Ignitis’s goal of achieving up to 5GW of installed green generation capacity by 2030, contributes to Lithuania’s national energy needs, and supports the European Union‘s climate goals.

Ignitis is Lithuania’s largest electricity supplier and a pivotal energy player in the Baltic region. The EBRD is the company’s second-largest shareholder following its initial public offering in 2020. The bank also supported Ignitis’s investment programme for electricity distribution network in Lithuania as well as its electric mobility infrastructure across the Baltic region.