We advised NORD/LB, KfW IPEX Bank and Nordic Investment Bank on providing long-term financing totaling around EUR 326 million to LT Energija to construct the new Pagėgiai wind farm. The plans will make it one of the largest wind farms in the Baltic States.
The wind farm, located on around 1,000 hectares, will have an installed capacity of 264 MW and generate an estimated 602 GWh of renewable energy annually, representing approximately 15% of the country’s current total power production.
Reaching Financial Close on the Pagėgiai Wind Farm marks a major milestone for both our clients Renerga, Achema AB and Achemos Grupė and for the country of Lithuania in their transition towards a sustainable future. We are extremely proud of the contribution we could make to this flagship project by leading the financing and ECA structuring, which demonstrates our strong commitment towards the region, and cements our market position as one of the leading financiers of renewable energy worldwide,” says Heiko Ludwig, Head of Structured Finance at NORD/LB.
Our services and project team
We advised the client on all Lithuanian-law-governed legal matters related to due diligence and project financing. Our team consisted of partners Augustas Klezys, Asta Augutytė-Rapkevičienė and Indrė Ščeponienė, counsels Andrius Šimkus and Indrė Pelėdaitė, senior associates Justina Paškevičienė, Julius Raškauskas, Sidas Sokolovas, Svetlana Rudaja and Vitalija Impolevičienė, associates Akvilė Jurkaitytė, Andrius Pilitauskas, Gabrielė Raižytė and Simonas Šlitas, and assistant lawyer Kamilė Baranauskaitė.
