European Energy secures US$158 million for 78.5MW solar park and 50MW BESS in Lithuania

June 3, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The loan, provided by SEB Lithuania and Swedbank Lithuania, will support three renewable energy assets, including two wind farms.
The loan, provided by SEB Lithuania and Swedbank Lithuania, will support three renewable energy assets, including two wind farms. Image: European Energy.

Danish renewables firm European Energy has secured a €145 million (US$158 million) long-term loan to finance a 78.5MW solar park co-located with a 50MW battery energy storage system (BESS) in Anykščiai, Lithuania. The BESS facility is set to open in 2026. 

The green loan, provided by SEB Lithuania and Swedbank Lithuania, will support three renewable energy assets, including two wind farms –  Telšiai I and Telšiai II – each with an installed capacity of 60MW. According to the firm, the hybrid project is expected to produce around 0.5 TWh of electricity annually, meeting approximately 4% of Lithuania’s total power demand.  

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Adding battery storage to our portfolio in the Baltics strengthens our renewable energy production, supporting energy independence and contributing to the fight against climate change,” said Jens-Peter Zink, deputy CEO of European Energy.

The expansion supports European Energy’s ambitions in Lithuania, aligning with its strategy to scale wind, solar, and battery storage in the region. 

According to its 2024 Annual Report, the firm made strong progress in its solar and wind business last year. The company brought 2.2GW of projects to the ready-to-build stage, signed 1.8GW worth of power purchase agreements (PPAs), and won 650MW in Contracts for Difference (CfD) auctions. It also connected 479MW to the grid across five countries, including Denmark, Poland, Italy, Germany and Australia and generated 2,080GWh of electricity from its own assets. 

In Lithuania alone, European Energy has built around 450MW of renewable energy capacity and is currently constructing an additional 200MW of solar and battery storage projects.  

Outside Lithuania, the company recently secured €68 million in financing to develop a 148MWp solar PV plant in Brocēni, Latvia through its subsidiary, Stelo Orienta SIA, with grid connection and commercial operations expected to begin in the first half of 2026. The project was announced in 2023 and is expected to generate around 120,000MWh of electricity annually.

Such strides in renewable energy underscore Lithuania’s aim to achieve full energy independence by 2030 as mandated by national law. Its power grid is integrated with the European network, and electricity is traded via Nord Pool, the world’s largest electricity exchange. However, the country still imported about 44% of its electricity in 2024.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 27, 2025
Engie has signed additional PPAs with Meta, expanding their partnership to more than 1.3GW across four solar projects in Texas.
October 27, 2025
Waaree Energies has secured four solar module supply contracts totalling 692MW – three for projects in India and one in the US through its subsidiary.
October 27, 2025
Global corporate financing in the solar industry reached US$6.5 billion in the third quarter of 2025, a 14% increase from the same period a year ago.
October 27, 2025
Premier Energies has acquired a 51% stake each in transformer maker Transcon and inverter producer KSolare Energy. 
October 27, 2025
US solar technology company Swift Solar has deployed perovskite solar technology as part of a Department of Defence cyber warfare exercise in the state of Virginia.
October 27, 2025
Australian solar developer, BNRG Leeson, has submitted plans for a 440MW solar PV facility in Victoria's Campaspe Shire to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany
Solar Media Events
March 24, 2026
Lisbon, Portugal