The European Investment Bank (EIB) has completed €250 million in financing for the Kelmé wind farm in Lithuania, the largest operating wind farm in the Baltic region, in a landmark deal supporting the country’s renewable energy expansion and energy security objectives.

The latest €150 million loan to Ignitis Group brings total EIB backing for the project to €250 million, following an initial €100 million facility provided last year. The financing represents nearly half of the €550 million investment behind the flagship wind project, which is reshaping Lithuania’s electricity system.

Developed by Ignitis Renewables, the Kelmé wind farm has an installed capacity of 314 megawatts (MW) and reached full commercial operation in June 2025. It is expected to generate enough electricity to power around 250,000 Lithuanian households, significantly increasing domestic renewable generation and reducing reliance on imported energy.

The project is also aligned with the European Union’s REPowerEU objectives and supports the transition to a low-carbon energy system across the Baltic region, delivering large-scale, subsidy-free renewable electricity.

EIB Vice-President Karl Nehammer said the financing underlines the strategic value of renewable energy investments for the region. “Our support highlights how strategic investments in renewable energy can deliver both energy security and economic resilience for Lithuania,” he said, adding that such projects help ensure stable, affordable and domestically produced electricity.

Ignitis Group Chief Financial Officer Jonas Rimavicius said the additional financing reflects continued confidence in the company’s strategy and long-term partnership with the EIB. “Access to capital at this scale is essential to expand domestic green generation and strengthen the regional energy system,” he said, highlighting the role of international financial institutions in enabling a secure and green energy ecosystem in the Baltics.

The EIB Group, the financing arm of the European Union, said it stepped up its support for Lithuania in 2025, providing €577 million in financing focused on defence, energy and infrastructure, helping mobilise €1.4 billion in investment and supporting over 17,000 jobs.

Ignitis Group, a leading Baltic energy company active across Lithuania, Poland and Finland, is continuing to expand its renewable portfolio as part of its strategy to build a fully secure and green energy ecosystem for the region.