Aquila secures EUR 125m for wind project in Lithuania

Aquila Clean Energy EMEA, the renewables energy arm of German investment management firm Aquila Group, has been granted a green loan of EUR 125 million (USD 136.1m) to build a 99.2-MW wind farm in northern Lithuania.

The financing will be provided by Swedish banking group Skandinaviska Enskilda Banken AB (STO:SEB-A), or SEB, according to a statement published by the lender on Monday.

The wind farm, Akmene Two, will consist of 16 turbines with a capacity of 6.2 MW each. The facility is scheduled to be commissioned in 2026.

“This is one of the bank’s most important transactions in Lithuania recently, and the financed wind park is currently the largest project of its kind here in terms of electricity generation,” Tadas Jonusauskas, head of corporate banking at SEB Lithuania, noted in the statement.

The facility is the second wind farm for Aquila Clean Energy in northern Lithuania. The first one, Akmene One, has a capacity of 74.4 MW and was also funded by SEB.

The projects are in line with Lithuania’s goal to produce its electricity entirely from renewable sources by 2050. In 2023, the country generated about 4 TWh of renewable power, representing 70% of the total production. Wind farms generated about 2.5 TWh, up by 66.8% compared to 2022.

(EUR 1 = USD 1.089)

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