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“Sustainable business investments in the wind farm are long-term and demonstrate investors’ confidence in the future of the Lithuanian energy industry.” The loan granted will help secure the financing needs of the project and provides the opportunity to further develop and partner with green energy suppliers in Lithuania to implement. “The demand for electricity from renewable sources is growing, so the power plant park in Akmenė District is a competitive project with further development opportunities,” says Artūras Vingrys, Head of Business Customers and Institutions Department at SEB Bank.
“It is planned that the power plant will produce the first clean electricity in 2024.” in January, which shows that by including another European country we are making an active contribution to the energy transition and the decarbonization of the economy. We have also concluded power purchase agreements with the region’s most important energy suppliers. “SEB Bank became our reliable partner, helping us to implement this project with its attractive financing package,” says Susanne Wermter, CEO of Aquila Clean Energy EMEA.
Wind energy projects in both Europe and the Baltics have gained significant momentum in recent years, but bureaucratic processes and negotiations with electricity transmission system operators are expected to move faster. However, projects in Lithuania continue to be attractive and are attracting increasing interest from foreign investors. Similar large-scale projects are expected to provide an important boost for Lithuania, which aims to rapidly increase local electricity production and implement the goal set in the National Energy Independence Strategy to generate 100% of its energy from renewable energy sources by 2050. required electricity.
At the beginning of 2020, the company implementing the “Akmenė One Wind Farm” project won the first technology-neutral auction in Lithuania to promote green energy. In the wind farm project currently under development, twelve turbines with an output of 6.2 megawatts (MW) were built each. To date, there are no higher power wind turbines in Lithuania.
In 2022, electricity production from wind energy in Lithuania was 1.51 terawatt hours (TWh). The Energy Ministry plans to increase the output of wind turbines by 3.2 times over the next three years – up to 2,613 megawatts. According to the ministry, national electricity production last year was 4.23 TWh, while wind turbines, solar power plants and hydroelectric plants produced 2.54 TWh.
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