Kristiina Randmaa
- European Investment Bank
- Communication Department
- 98-100, Boulevard Konrad Adenauer
- L-2950 Luxembourg
- Luxembourg
The European Investment Bank (EIB) is lending €105 million to Lithuanian utility Ignitis Group to expand a key pumped storage hydroelectric power plant. The project involves installing a fifth pump-turbine unit at the Kruonis Pumped Storage Hydroelectric Power Plant, or Kruonis PSHP, making it one of the largest energy-storage facilities in Europe.
The European Investment Bank Group (EIB Group) has announced a significant investment of €654 million in financing for projects in Lithuania in 2023. This represents a substantial increase from 2022, and EIB Group financing in the country over the past five years now totals almost €2.4 billion.
The European Investment Bank (EIB), Nordic Investment Bank (NIB) and UAB VVP Investment, part of Ignitis Group, have signed a financing agreement for the Mažeikiai onshore wind farm in Lithuania. Ignitis Group is a renewables-focused integrated utility and leading energy company in the Baltics.