EBRD considers financing solar, wind energy in Lithuania, purchase of green bonds

VILNIUS – The European Bank for Reconstruction and Development (EBRD) is considering further support to renewable energy and energy efficiency projects in Lithuania, also taking interest in again investing in green bonds, says EBRD chief for the Baltic states.

"The main topic was renewables, how we could support, finance more renewables in Lithuania – generation and also energy efficiency projects (…). Now we are looking at what we could do perhaps in the field of solar and wind in Lithuania," Matti Hyyrynen said after meeting with Lithuania's Energy Minister Zygimantas Vaiciunas on Tuesday.

In his words, EBRD would consider continuing to invest in green bonds of the state-run energy holding Lietuvos Energija after making the investment last July.

Vaiciunas said the meeting with Hyyrynen also addressed the national energy independence strategy and the possibility to consolidate the regional stance of the Lithuanian energy sector.

In the minister's words, other topics on the agenda included the possibility for EBRD to contribute to producing consumers, for instance, in the field of solar energy, as the field requires rather large investments that in part bars development and accessibility to the population.

EBRD administers the decommissioning funds of the International Foundation for the Ignalina Nuclear Power Plant, also financing renovation of Soviet-era apartment buildings. It invested in Lietuvos Energija's green bonds last year after an earlier investment in the capital of Siauliu Bankas. EBRD has also issued loans to some companies in Lithuania.

Lithuania joined EBRD in 1992.