Tag Archives: Lithuania

ORLEN Completes Transition to 100% Non-Russian Crude, Securing Regional Energy Independence

(IN BRIEF) As of 1 July 2025, the ORLEN Group has fully phased out Russian crude oil following the expiry of its last Rosneft contract, marking a key milestone in regional energy security. Under CEO Ireneusz Fąfara’s leadership, ORLEN’s refineries … Read the full press release

EIF and Citadele Bank Partner to Provide Up to €138 Million in Preferential Loans for Baltic Businesses

(IN BRIEF) Citadele Bank, with EIF support, has launched a €138 million loan programme aimed at SMEs and microbusinesses in Estonia, Latvia, and Lithuania. The initiative, backed by the European Commission’s InvestEU programme, will offer loans with low interest rates, … Read the full press release

RATO Credit Union and EIF Launch €20 Million Financing Initiative to Support Sustainable Projects in Lithuania

(IN BRIEF) RATO Credit Union has partnered with the European Investment Fund (EIF) under the InvestEU program to provide €20 million in financing for sustainable projects in Lithuania. This agreement enables RATO to offer more accessible loans with favorable terms, … Read the full press release

NIB and Celltechna Collaborate on First Baltics Gene Therapy Centre to Boost Life Sciences Innovation

(IN BRIEF) NIB has financed the Gene Therapy Centre in Lithuania, a groundbreaking facility advancing gene therapy research and manufacturing. Opened in September, it is a critical part of Lithuania’s life sciences sector, contributing to the country’s goal of growing … Read the full press release

Swedbank Taps New Leader for Baltic Market Expansion

(IN BRIEF) Swedbank has officially named Olof Sundblad as the permanent Head of Baltic Banking, elevating him from his acting role since October 2024. In this new capacity, he will remain a member of the Group Executive Committee. Sundblad’s appointment … Read the full press release

FL Technics Expands MRO Capabilities with EASA Certification for Embraer Heavy Maintenance

(IN BRIEF) FL Technics, a subsidiary of Avia Solutions Group and a recognized global leader in MRO services, has obtained EASA Part-145 approval to perform heavy maintenance on Embraer 170/190 aircraft. This development enables the company to meet the rising … Read the full press release

ORLEN Secures Second LNG Supply Contract with Naftogaz to Bolster Ukraine’s Energy Security

(IN BRIEF) ORLEN and Naftogaz of Ukraine have signed a new natural gas supply contract, ensuring deliveries for Ukrainian consumers starting in April. This is the second contract under a cooperation agreement signed earlier this year, with the gas being … Read the full press release

Sweco Awarded Contract to Assess Environmental Risks for Ignalina’s Deep Geological Repository

(IN BRIEF) The Ignalina Nuclear Power Plant in Lithuania has contracted Sweco for €448,000 to evaluate environmental risks for a proposed deep geological repository intended for the final disposal of long-lived radioactive waste. As a vital part of Ignalina’s decommissioning … Read the full press release

Baltic States Achieve Historic Electricity Grid Synchronization with Europe, Boosting Energy Security

(IN BRIEF) Estonia, Latvia, and Lithuania have successfully synchronized their electricity grids with the European Continental European Network, marking a significant step in their energy independence from Russia and Belarus. This achievement, celebrated as “Energy Independence Day,” strengthens the region’s … Read the full press release

ENTSO-E Marks Successful Synchronization of Baltic States’ Electricity Grids with Continental Europe

(IN BRIEF) On February 9, 2025, Estonia, Latvia, and Lithuania successfully synchronized their electricity systems with Continental Europe’s electricity grid, marking a historic achievement for the Baltic States and Europe. The synchronization improves energy security and independence for the region, … Read the full press release

EIF Pledges €20 Million to New Private Credit Fund Supporting Baltic SMEs and Sustainable Growth

(IN BRIEF) The European Investment Fund (EIF) has committed €20 million to the SG Capital Baltic Private Credit Fund, a new initiative managed by Latvia-based SG Capital Partners AIFP. The fund aims to raise €100 million to support small and … Read the full press release

Lithuania and EIB Partner to Improve Energy Efficiency in 700 Apartment Buildings

  (IN BRIEF) The Lithuanian government and the European Investment Bank (EIB) have partnered in a €100 million initiative to renovate 700 multi-apartment buildings, mobilizing up to €625 million to improve energy efficiency. The project will reduce household energy bills, … Read the full press release

EBRD and Swedbank Fund €48.4M Green Logistics Hub to Boost Supply Chains in Lithuania

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) and Swedbank Lithuania have partnered to provide €48.4 million in funding for the development of SIRIN PARK GARIŪNAI, a modern logistics park near Vilnius, Lithuania. The project, led by SIRIN … Read the full press release

EIF Commits €15 Million to Merito Partners’ Fund to Boost SME Growth in the Baltic Region

(IN BRIEF) The European Investment Fund (EIF) has committed €15 million from the Baltic Innovation Fund II to Merito Partners’ ‘Merito Baltic Opportunities I AIF,’ marking its first institutional investment in the fund. Aiming to raise €100 million, the fund … Read the full press release

Rheinmetall and Lithuania Begin Construction of Advanced Ammunition Production Plant

(IN BRIEF) Rheinmetall and the Lithuanian government have begun construction of a new €180 million ammunition production facility in Baisogala, Lithuania, which will manufacture tens of thousands of 155mm artillery shells annually. The plant, set to start operations in mid-2026, … Read the full press release

EIF and Lithuania’s ILTE Launch €191.6 Million Initiative to Boost Business Financing Through Private Credit Funds

(IN BRIEF) The European Investment Fund (EIF) and Lithuania’s national development institution, UAB ILTE, are investing €191.6 million to support private credit funds, providing alternative financing for Lithuanian businesses. With equal contributions of €95.8 million each, the partnership aims to … Read the full press release

EBRD Invests €100 Million in Green Genius to Propel Renewable Energy Growth in Europe

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has announced a €100 million investment in Green Genius, a renewable energy developer, positioning itself as a minority shareholder upon receiving necessary regulatory approvals. This funding will support Green Genius’s … Read the full press release

Kaunas Secures €35 Million EIB Loan to Upgrade Heating System and Boost Renewable Energy

(IN BRIEF) Kaunas, Lithuania’s second-largest city, will modernize its district heating system using a €35 million loan from the European Investment Bank (EIB), supported by the European Commission’s InvestEU program. The project, led by utility company Kauno Energija, will upgrade … Read the full press release

Faktoro Secures €55 Million EIF Guarantee to Boost Lithuanian SMEs and Social Enterprises

(IN BRIEF) Faktoro, a leading non-bank business financier in Lithuania, has entered into a guarantee agreement with the European Investment Fund (EIF) to provide up to €55 million in new financing for more than 800 Lithuanian companies. The funding, supported … Read the full press release

Utilitas Wind and Latvenergo AS Partner with Vestas for Major Baltic Wind Project

(IN BRIEF) Vestas secures a 124 MW wind energy project order in Telsiai, Lithuania, from Utilitas Wind and Latvenergo AS, marking a significant advancement in the Baltic region’s renewable energy capacity. The order includes 20 V162-6.2 MW wind turbines, with … Read the full press release