Ignitis Group, an integrated renewable energy company in Lithuania, announced that it has signed a 20.7 million euro financing agreement with Swedbank to refinance the obligations of EURAKRAS, its subsidiary managing a 24 megawatt (MW) wind farm in the Jurbarkas district.

The green financing arrangement, finalised on 17 October, aligns with Ignitis Group’s broader strategy to accelerate green energy capacity and achieve 4–5 gigawatts (GW) of installed renewable energy by 2030, the company said.

“This green financing agreement enables us to continue rapid investments into renewable energy projects while maintaining healthy financial performance indicators, which allows us to generate consistent returns,” said Jonas Rimavičius, Group CFO. He emphasised Ignitis Group’s commitment to building a “100 per cent green and secure energy ecosystem,” a mission that aligns closely with national goals in Lithuania.

The financing, set for a 7-year term, meets the established green financing criteria, underscoring both companies’ commitment to sustainable energy development, Ignitis stated.

“One of our bank’s strategic goals is to actively contribute to financing projects aimed at green transition in Lithuania,” Swedbank’s Ignas Mačeika, Head of Corporate Customer Division, commented. “We are delighted by our long-standing partnership with Ignitis Group, which demonstrates leadership in implementing complex renewable energy projects in the Baltic states. This agreement showcases our team’s readiness to support ambitious renewable development plans, increasing the resilience of the national energy sector.”

Mr Rimavičius highlighted that expanding green energy generation capacity is a key driver of Ignitis Group’s growth. The company said it currently has a renewable energy portfolio totalling 7.7 GW, with 1 GW under construction across Lithuania, Latvia and Poland.