Ellex advised on €145 million financing for European Energy’s major renewables projects in Lithuania

Ellex advised on one of the largest renewable energy financing transactions in Lithuania to date. SEB Bank and Swedbank have provided a €145 million long-term loan to European Energy, supporting several strategic green energy developments in the country. 

The loan will be used to refinance and further expand three key renewable energy assets: 

• Two 60,5 MW onshore wind farms (“Telšiai I” and “Telšiai II”), 

• A 78.5 MW solar PV park in Anykščiai, 

• And a new grid-scale battery energy storage system, to be developed adjacent to the solar park. 

These hybrid energy assets are expected to generate approximately 0.5 TWh of electricity per year, equivalent to around 4% of Lithuania’s total electricity demand, significantly contributing to the country’s energy independence and climate goals. 

The Ellex legal team – Eglė Neverbickienė, Eglė Radvilatė and Elvika Leščinskaitė – advised on all legal aspects of the financing structure and implementation. 

This transaction reflects the growing importance of energy storage and large-scale renewable projects in Lithuania’s path toward a carbon-neutral future. Ellex is proud to support such forward-looking initiatives.