“Swedbank” lends 75 million EUR to wind power project of “Achema Group”

“Swedbank” signed an agreement with concern “Achema Group” regarding granting 75 million EUR. These funds will be used to develop own 264 MW wind farm, where the generated electricity will be used for the needs of the group of companies.

“Achema Group” is one of the industry and export leaders in Lithuania, which was one of the pioneers in Lithuania to start developing renewable energy projects. We are glad to see that the group is associating the activity thereof with renewable resources more and more and this project of a large scale will enable the company to significantly reduce the performance emissions, upgrading the sustainability profile and, thus, ensure competitiveness in the international markets in long-term perspective,” explained Ignas Mačeika, the member of the board of “Swedbank” in Lithuania and Head of Business Client Service.

According to I. Mačeika, the need for sustainability-related investments will only increase, whereas “Swedbank”, as one of the largest business financiers on the market, is ready to continue helping all business clients to take the path of sustainability.

“Renerga” is a pioneer of renewable energy in Lithuania. Pagėgiai Wind Park is an important continuation of our strong traditions and commitment to investing into renewable energy. We believe that this project will allow us to take a solid step forward in achieving both the goals pertaining to renewable energy of our group and sustainability goals of Lithuania,” says Lidija Lubienė, chairwoman of the board of concern “Achema Group”.

The wind power park of “Achema Group” is being developed in Pagėgiai district, during this project a total of 40 wind power plants should be built. It is estimated that they should produce about 602 GWh of electricity per year. The expected start of operation of the wind power park is the third quarter of 2026. The total amount of investment in this project amounts to about 460 million EUR.

Currently, “Achema” is also exploring the possibility of developing a green hydrogen production project that would also use the electricity produced in this park. It is considered that hydrogen could partially replace natural gas and, thus, significantly reduce the carbon dioxide emissions of the production process.

“Renewable energy sources and green hydrogen are among the most realistic alternatives to fossil fuels in the industry. By actively investing in the development of renewable energy, “Achema”, as one of the largest industrial companies in Lithuania, contributes to the significant reduction of emissions on a nationwide scale and to the increase of energy resilience,” noticed Aidas Paulauskas, Senior Project Manager of Swedbank Business Client Service.