Nordic Solar A/S lends €24.15M from Swedbank for the completion of the solar park

Nordic Solar A/S, a Danish company, is completing the development of an 80-megawatt (MW) solar park in the Švenčionys district. Swedbank has provided  €24.15M in financing. This ambitious renewable energy project will generate enough electricity to power more than 40,000 households. 

Nordic Solar A/S is a solar energy company which had developed over 20 European projects. It is the company’s second project in Lithuania. A year ago, in Molėtai district, they opened the country’s largest 100 MW solar park, which Swedbank also financed.  

The new solar park in the Švenčionys district was built using a steel structure developed by the Danish company, which has been granted a European patent. This construction allows double-sided solar modules to be installed to maximise their power generation potential. 

This transaction is significant because it contributes to developing renewable resources, strengthening the country’s energy resilience and supporting a more sustainable future. 

Ellex in Lithuania assisted the client in securing financing for the implementation of this project. The project was led by Ellex in Lithuania Associate Partner Eglė Neverbickienė and assisted by Associate Elvika Leščinskaitė.