Natural Power Advises Swedbank on Financing a 182 MWp Solar PV Portfolio in Lithuania
Natural Power provided technical advisory services to Swedbank for the financing of a substantial 182 MWp solar PV portfolio in Lithuania. The portfolio comprises three projects—SoliTek (56 MWp), Giminija (53 MWp), and Saulės Paštas (73 MWp)—all developed by renewable energy company Green Genius.
This investment aligns with a 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
While all three solar parks are currently under construction, Saulės Paštas has already achieved a significant milestone by connecting to the 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 supports the country’s 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 involved a comprehensive review of key project agreements, a thorough assessment of the technical design and yield analysis, site visits, and an evaluation of the 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 its small size and high population density, the country continues to advance renewable energy projects, often integrating them with existing agricultural and industrial sites.
Green Genius is a key player 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 contributes to the country’s progress toward 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 financing 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.”
Project Impact and Natural Power’s Global Expertise
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 for the renewable energy sector, offering comprehensive services across onshore wind, solar, and energy storage projects. Headquartered in Scotland, Natural Power operates internationally and has supported over 1,200 renewable energy projects worldwide, totaling more than 40 GW of combined capacity. The company maintains a growing presence in emerging markets across Central and Eastern Europe.
