Natural Power Advises Swedbank on Financing of 182 MWp Solar PV Portfolio in Lithuania
Natural Power has provided technical advisory services to Swedbank in connection with the financing of a substantial 182 MWp solar PV portfolio in Lithuania. This portfolio comprises three projects: SoliTek (56 MWp), Giminija (53 MWp), and Saulės Paštas (73 MWp), all developed by the renewable energy company Green Genius. This investment aligns with the growing trend of financing large-scale solar projects in the region, as highlighted by recent news of a similar project securing €55 million in financing. https://www.pvknowhow.com/news/lithuania-solar-project-80mwp-financing/
Solar PV Financing in Lithuania: Portfolio Overview
The three solar parks are currently under construction. Saulės Paštas has achieved a significant milestone by connecting to the electricity grid. SoliTek and Giminija are expected to be connected by the end of 2024, contributing to Lithuania’s drive for energy independence from Russian electricity imports via the BRELL system. This timeline coincides with ambitious national renewable energy targets, as reported by PVKnowhow. https://www.pvknowhow.com/news/lithuania-solar-projects-2025-expands-capacity/
Natural Power’s scope of work included a comprehensive review of key project agreements, a thorough assessment of the technical design and yield analysis, site visits, and an evaluation of grid connection and permitting processes. The team also provided expert advice on construction and operational risks.
Renewable Energy Growth and Solar PV Financing in Lithuania
Lithuania’s renewable energy sector is experiencing rapid growth, particularly in solar power. Despite the country’s small size and high population density, deployment of renewable energy projects continues to advance, often integrated alongside existing agricultural and industrial sites. Green Genius plays a key role in this expansion, with 240 MWp of solar PV capacity already operational and ambitious plans to reach 1.5 GWp by 2025, a target supported by government initiatives like the 15 million euro solar power program. https://www.pvknowhow.com/news/lithuania-solar-power-program-launches-15-million/ This growth aligns with the country’s progress towards achieving 870 MW of solar capacity. https://www.pvknowhow.com/news/lithuania-solar-capacity-record-870mw-2024/ The recent opening of Lithuania’s largest solar park further underscores this commitment to renewable energy. https://www.pvknowhow.com/lithuanias-largest-solar-park-opens/
“We are very pleased to have supported Swedbank in their financing of this solar PV portfolio,” said David Dunbar, Natural Power’s head of emerging markets. “Our work has enabled Swedbank to assess the technical risks and opportunities of these projects, contributing to the bank’s strategic objectives in the renewable energy sector. This portfolio demonstrates the growing potential of solar PV in Lithuania.”
Natural Power’s Role in Solar PV Financing in Lithuania
This portfolio is poised to contribute significantly to Lithuania’s renewable energy generation, supporting both national goals and the EU’s climate targets. Natural Power is a leading independent consultant and service provider in the renewable energy sector, offering comprehensive services across onshore wind, solar, and energy storage projects. With involvement in over 1,200 renewable energy projects globally, totaling over 40 GW of combined capacity, Natural Power, headquartered in Scotland, operates internationally and maintains a growing presence in emerging markets across Central and Eastern Europe.
