Lithuania: EIB completes €250 million backing for Baltic’s largest wind farm

Source: European Union 2   Published on: 2026-06-17

• EIB provides additional €150 million loan to Ignitis Group for Kelmė wind farm

• New financing brings EIB backing for largest operating onshore wind facility in Baltics to €250 million

• Site strengthens Lithuania’s energy independence and green goals

The European Investment Bank (EIB) has completed its financing for the Kelmė wind farm in Lithuania – the largest operating wind site in the Baltic region – with an additional loan of €150 million to Ignitis Group.

The new financing brings the EIB’s total support for the project to €250 million, representing almost half of a €550 million flagship investment that is reshaping Lithuania’s energy landscape. The EIB last year provided an initial loan of €100 million for the Kelmė wind farm.

“Our support highlights how strategic investments in renewable energy can deliver both energy security and economic resilience for Lithuania,” said EIB Vice-President Karl Nehammer. “Projects like this help ensure stable, affordable and domestically produced electricity for the future.”

With an installed capacity of 314 megawatts (MW), the Kelmė wind farm, developed by Ignitis Renewables, reached full commercial operation in June 2025. It generates enough electricity to power 250,000 Lithuanian households and has significantly increased the country’s domestic renewable electricity generation, strengthening energy security and reducing reliance on energy imports.

“The additional EIB financing reflects continued confidence in Ignitis Group’s strategy and our long-term partnership with the European Investment Bank. Access to capital at this scale is essential to expand domestic green generation and strengthen the regional energy system,” said Ignitis Group Chief Financial Officer Jonas Rimavičius. “It also highlights the role of long-term partnerships with international financial institutions as a key enabler in delivering a secure and green energy ecosystem across the Baltic region.”

The project contributes to the European Union’s REPowerEU objectives and supports the transition to a low-carbon economy in the Baltic region by delivering large-scale, subsidy-free renewable energy.

Ignitis Group, a leading Baltic energy company, is expanding its renewable energy portfolio across the region.

Background information  

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. 

The EIB Group stepped up its support for Lithuania in 2025, providing €577 million in financing focused on defence, energy and infrastructure, helping to mobilise €1.4 billion in investment and support over 17,000 jobs.

Ignitis Group is a leading integrated energy group in the Baltic region. Our purpose is to create a 100% secure and green energy ecosystem for current and future generations. Its integrated business model is benefiting from the largest network, energy storage capacity, and customer portfolio in the Baltics. The Group is active in the Baltic states, Poland and Finland. It leads the regional energy transition to strengthen its competitiveness and support economic growth. It secures local, reliable energy to support household well-being, enhance business competitiveness, and attract energy-intensive industries.

The project consists of the design, construction and operation of an onshore wind farm in the west of Lithuania (Kelme county) with a nominal installed capacity of ca. 300 MW. The wind farm will be constructed in two phases. Phase 1 will comprise of an installed capacity of ca. 105 MW and Phase 2 will comprise of an additional capacity of ca. 195 MW. The two phases are located adjacent to each other. The scope will include the ancillary infrastructure, such as the grid connection.

• Lithuania and the EIB

• k.randmaa@ext.eib.org

• management committee

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