The European Bank for Reconstruction and Development (EBRD) is lending €79.5m ($92.3m) to Lithuanian integrated energy utility company Ignitis Group to facilitate the construction of the largest onshore wind farm in the Baltic region.

The loan is part of a comprehensive €318m financing package designed to enhance Lithuania’s energy security and support its transition to green energy.

The financing package, which also includes contributions from the European Investment Bank, Swedbank and Nordic Investment Bank, will enable Ignitis to finalise its 314MW wind farm project in Kelmė, western Lithuania.

The Kelmė wind farm will generate 740 gigawatt hours (GWh) of zero-carbon electricity each year, sufficient to supply 250,000 households.

The total investment in the project, including the acquisition price and construction costs, is expected to be €550m.

Ignitis is planning to achieve up to 5GW of installed green generation capacity by 2030, contributing to Lithuania’s national energy requirements and supporting European Union climate targets. The company’s installed green capacities are currently 2.1GW.

In 2020, EBRD became the company’s second-largest shareholder following Ignitis’ initial public offering.

EBRD also backed the company’s investment programme for the electricity distribution network in Lithuania, and expanded the electric mobility infrastructure throughout the Baltic region.

Since commencing operations in Lithuania, EBRD has invested more than €1.8bn in 143 projects within the country, with a significant emphasis on sustainable infrastructure and green transition.

In May 2025, EBRD made a €50m investment in the €500m senior secured bond issuance by Bulgaria’s Eastern European Electric Company.