| Project Detail |
As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information. Download PSD Translation (Lithuanian) (PDF, 0.20MB) Project Description Senior, unsecured, corporate loan of up to EUR 60.0 million to AB Ignitis Grupe (the Company) to support the development, construction, equipment and operation of Electric Vehicles (EV) charging stations in the Baltic countries (the Project). As part of the Project, the Company is expected to benefit from an up to EUR 3.78 million grant financing under the EU Alternative Fuels Infrastructure Facility (AFIF). The Project will finance up to 600 public EV charging stations across Lithuania, Latvia and Estonia. Project Objectives The Banks loan proceeds will be used for the roll-out of the charging stations for electric vehicles in the Baltic countries. The EV charging services market in the Baltic countries is in its development stage, lagging behind that in Western Europe in infrastructure and density. With this financing, the Company aims to fortify and expand its position in Lithuania, while creating a comprehensive public EV charging network in Latvia, focusing on strategic sites, ensuring optimal locations which cater to local demand and high-traffic areas, and penetrating gradually the Estonian EV charging services market. |
