Swedbank has provided EUR 24.8m in financing for three large-scale solar park projects in Lithuania, with a combined installed capacity of 77.7 MW and an expected annual electricity generation of over 95 GWh.
The projects are being developed by CE Solar Kruonis and Pamario Energija – portfolio companies of the Clean Energy Infrastructure Fund, a closed-end investment fund for informed investors, managed by renewable energy investment firm Envolve Capital.
CE Solar Kruonis is developing two solar parks near Kruonis and Leipalingis with a total capacity of 52.7 MW, while Pamario Energija is building a 25 MW solar park near Kretingalė. Commercial operations are expected to begin in summer 2026.
“This financing agreement marks a significant milestone in executing the fund’s investment strategy. Lithuania remains a key market for us due to its dynamic renewable energy sector and access to project financing that supports local energy resilience,” said Povilas Pečiulis, CEO of Envolve Capital.
The Kruonis and Kretingalė projects are currently the largest solar projects within the Clean Energy Infrastructure Fund’s Lithuanian portfolio. This latest collaboration follows previous financing partnerships with Swedbank in both Lithuania and Latvia.
