The European Investment Bank has completed its financing for the Kelmė wind farm in Lithuania, the largest operating wind site in the Baltic region, with an additional €150 million loan to Ignitis Group. The new tranche brings the bank’s total backing for the project to €250 million.
That sum covers almost half of the €550 million investment behind the 314 MW project. Developed by Ignitis Renewables, Kelmė reached full commercial operation in June 2025 and generates enough electricity to power around 250,000 Lithuanian households. The EIB provided an initial €100 million loan for the site last year.
“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. Ignitis Group Chief Financial Officer Jonas Rimavičius said access to capital at this scale was essential to expand domestic green generation and strengthen the regional energy system.
The project supports the European Union’s REPowerEU goals by adding large-scale, subsidy-free renewable capacity. It also reduces Lithuania’s reliance on energy imports, a priority across the Baltic states since they decoupled from the Russian grid. The EIB Group provided €577 million in financing to Lithuania in 2025, focused on defence, energy and infrastructure.
