The European Bank for Reconstruction and Development (EBRD) has committed €79.5 million ($92.3 million) to Lithuanian energy utility Ignitis Group, a significant step towards the construction of the largest onshore wind farm in the Baltic region. This loan is part of a broader €318 million financing package, which also includes contributions from the European Investment Bank, Swedbank, and the Nordic Investment Bank. The package is designed to bolster Lithuania’s energy security and accelerate its transition to renewable energy.
The Kelmė wind farm, with a capacity of 314MW, is expected to generate 740 gigawatt hours (GWh) of zero-carbon electricity annually. This output is sufficient to power 250,000 households, making a substantial contribution to Lithuania’s national energy requirements. The total investment in the project, including acquisition and construction costs, is projected to reach €550 million.
Ignitis Group aims to achieve up to 5GW of installed green generation capacity by 2030, a significant increase from its current capacity of 2.1GW. This aligns with Lithuania’s national energy strategy and the broader European Union climate targets. EBRD’s involvement extends beyond this project; the bank has been a key supporter of Ignitis Group since becoming its second-largest shareholder following the company’s initial public offering in 2020. EBRD has also backed Ignitis’ investment programme for Lithuania’s electricity distribution network and expanded electric mobility infrastructure across the Baltic region.
Since beginning operations in Lithuania, EBRD has invested over €1.8 billion in 143 projects, with a strong focus on sustainable infrastructure and the green transition. In May 2025, EBRD made a €50 million investment in the €500 million senior secured bond issuance by Bulgaria’s Eastern European Electric Company, further demonstrating its commitment to the region’s energy sector.
This development underscores the growing momentum behind renewable energy projects in Eastern Europe. The Kelmė wind farm project not only enhances Lithuania’s energy security but also sets a precedent for similar initiatives in the region. As countries strive to meet their climate targets, such investments are crucial in driving the transition to a low-carbon economy. The collaboration between international financial institutions and local energy utilities highlights the importance of partnerships in achieving sustainable energy goals. This project could inspire other Baltic states to invest more heavily in renewable energy, potentially leading to a regional energy revolution.