Lithuania drives Baltic EV growth and sustainable urban projects with EBRD support
The European Bank for Reconstruction and Development (EBRD) has granted a 60 million euro loan to Ignitis Group to expand its subsidiary, Ignitis ON’s EV fast-charging network. Up to 600 new stations will be built in Lithuania, Latvia and Estonia by the end of 2027.
The total investment is estimated at around 76 million euros, and the group has also secured up to 3.78 million euros from the European Network Facility’s Alternative Transport Fuel Infrastructure programme.
Part of the infrastructure will be built along the Trans-European Transport Network (TEN-T) corridors, contributing to the EU’s decarbonisation targets for transport set out in the Fit for 55 package, while remaining in line with the European Green Deal.
“Our charging network tripled in 2024, and this year we will continue its active expansion across the Baltic states,” said Darius Maikštėnas, CEO of Ignitis Group. “These encouraging figures indicate a breakthrough in the development of EV infrastructure in the region, where we aim to lead in fast-charging stations. The new investments will further strengthen this process and invigorate the development of the EV ecosystem.”
Ignitis currently operates 1,286 EV charging stations in the Baltic states, where 4.6 GWh of electricity was consumed in 2024.
Sustainable real estate in Vilnius
The EBRD is also partnering with Releven, one of Lithuania’s leading real estate developers, to deliver sustainable projects in Vilnius.
The Bank will invest up to 50 million euros in a new joint venture with the company to finance energy-efficient offices, residential and mixed-use buildings in the city’s central business district and old town.
The venture will focus on transforming underused land and brownfield sites into sustainable urban spaces and constructing real estate certified as “Very Good” or above under international BREEAM standards, or achieving energy performance at least 10 per cent better than Lithuania’s national Nearly Zero-Energy Building (nZEB) requirements.
One of the first developments will be the Horizontai project, a mixed-use quarter in Vilnius’ central business district.
Since the start of its operations in Lithuania, the EBRD has invested more than 1.8 billion euros in the country across 143 projects, with a focus on the green transition, private-sector competitiveness, and the development of the financial sector.
Original source: CEENERGYNEWS
