European Energy secures EUR 130m to build wind farms in Lithuania

The Nojsomheds Odde wind farm in Denmark. Source: European Energy A/S

August 13 (Renewables Now) - Danish renewables developer European Energy and institutional investor EIG Global Energy Partners (EIG) have closed a EUR-130-million (USD 153m) financing facility to support the construction of wind farms in Lithuania.

European Energy said on Friday it has already started work on projects with a combined capacity surpassing 300 MW in Lithuania. Moreover, its pipeline of projects under development in the country exceeds 1 GW.

The amount of financing available as part of the new facility is not limited to just projects in Lithuania and the company will be able to draw funds from it later to support schemes in other countries and markets.

Since the start of the year, the Copenhagen-based company has initiated building works on more than 1 GW of renewable energy projects in various markets, it noted.

(EUR 1.0 = USD 1.174)

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