SEB Bank provides EUR 125 million loan to finance Windfarm Akmenė Two

SEB Bank has provided a EUR 125 million green loan for the construction of a wind power park in the Akmene district. The financing is intended for the company Windfarm Akmenė Two – a project of the German clean energy business Aquila Clean Energy EMEA – which will develop its second wind farm project in the region.

Windfarm Akmenė Two will install an onshore wind farm with a capacity of 99.2 megawatts (MW), consisting of 16 turbines with a capacity of 6.2 MW each. It is scheduled to be commissioned in 2026.

„The decision of Aquila Clean Energy to build the second wind farm in Lithuania evidences the strong opportunities in the Lithuanian energy sector. This is one of the bank’s most important transactions recently, and the financed wind park is currently the largest project of its kind in Lithuania in terms of electricity generation. To achieve the goals of energy independence and decarbonisation, the demand for renewable energy is growing rapidly. We are proud to be able to contribute to this development in the country", says Tadas Jonušauskas, Head of Corporate Banking Division at SEB Lithuania.

This is already the second wind farm which Aquila Clean Energy has built in northern Lithuania. The first project, Windfarm Akmenė One with a capacity of 74.4 MW, was also financed by SEB Bank, which granted a green loan.

“We are delighted to be partnering with SEB bank again and to have secured the financing for our second wind farm in Lithuania”, says Andrew Wojtek, CEO of Aquila Clean Energy EMEA. “Driving forward the energy transition and bringing affordable, clean energy to European markets is our company’s most important goal.”

A total of 3,972 TWh of electricity was produced from renewable sources, accounting for 70 percent of total Lithuanian production last year. More than half of this – 2,524 TWh – came from wind energy. The amount of energy produced by wind power plants increased by 66.8 percent last year compared to 2022.

These changes brought Lithuania closer to its goal of energy independence. According to Litgrid data, local production covered 48 percent of Lithuania’s total electricity demand last year. This is the highest figure since 2010, when the Ignalina nuclear power plant started its commercial operation. Last year, Lithuania's electricity import decreased by 12.7 percent compared to 2022.

Lithuania’s national independence strategy envisages the country generating 100 percent of its electricity requirements from renewable sources by 2050.