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Danish renewable energy company European Energy A/S has obtained EUR 145 million (USD 165.7m) in loans to back the operation of close to 200 MW of onshore wind and solar farms in Lithuania and install a new battery facility.The long-term financing deal was signed with the Lithuanian units of SEB and Swedbank, European Energy said on Tuesday. The fresh capital will support the operation of the Telsiai I and II onshore wind farms, with an installed capacity of 60 MW each, and the 78.5-MW Anyksciai solar park. A portion of the financing will be used to bankroll the construction of a new battery energy storage system (BESS) co-located with the photovoltaic (PV) plant. The funding deal was signed in line with European Energy’s strategy to roll out battery storage capacity across Lithuania, which it considers a key market for its renewable energy development. “Adding battery storage to our portfolio in the Baltics strengthens the resilience of our renewable energy production, supporting true energy independence and contributing to the fight against climate change,” said Jens-Peter Zink, deputy CEO of the Danish firm. Soborg-based European Energy currently has about 450 MW of renewable energy plants operating in Lithuania and is working on the construction of another 200 MW of solar and energy storage projects. (EUR 1.0 = USD 1.143) |
