The European Investment Bank (EIB) and Lithuania have signed a EUR 300mn financing agreement to support investment in long-term competitiveness, job creation, and the green and digital transitions in the 2021-2027 period, Devdiscourse reports. Lithuania will use the money to finance its national contribution to EU-funded priority projects. The loan is the first tranche of…
The Lithuanian developer of solar project design software, PVcase, has secured USD 100mn (EUR 90mn) of new funding from international investors, pv magazine reports. Existing investor, Boston-based Elephant VC, Chicago-based Energize Ventures, and London-based Highland Europe participated in the funding round. This is the second-largest investment ever in Lithuania’s startup sector, Baltic News Network reports….
Lithuanian asset management firm Modus Asset Management’s Clean Energy Infrastructure Fund will acquire Estonian renewable energy company Evecon’s solar farm portfolio in Latvia for an undisclosed sum, The Baltic Times reports. The portfolio consists of ten ground-mounted solar farms with bifacial solar panels and a total installed capacity of 55 MW. The portfolio is close…
The Investment and Development Agency of Latvia (LIAA) has approved 20 foreign direct investment (FDI) projects to the tune of EUR 371.5mn so far in 2023, LSM reports. The projects will create 1,160 new jobs. The investment projects are in sectors such as bioeconomy, ICT, photonics and smart materials, smart energy and mobility, as well…
Latvia’s electricity transmission system operator, Augstsprieguma Tikls (AST), plans to invest EUR 509.8mn in the transmission network in 2024-2033, LSM reports. EU support will cover EUR 135.8mn of the total sum. AST will invest in the infrastructure and management technologies of the electricity transmission network to prepare for the synchronisation of the Latvian power grid…
Estonia’s economic climate index stood at -19.4 points in June 2023, which was down by almost 9 points from March 2023, according to the Estonian Institute of Economic Research (EKI), ERR reports. The economic confidence index, which combines both business and consumer sentiment, stood at 78.7 points, which was significantly worse than the long-term average….
Estonia’s Minister of Defence, Hanno Pevkur, has approved a defence plan for 2024-2027 to increase the country’s military capabilities and defence forces, ERR reports. Pevkur said that Estonia would acquire “significantly more and better weapons, ammunition, and equipment,” as well as invest in people and infrastructure. The defence plans include investments in the Ämari Air…
Lithuania’s state-owned electricity supplier, Ignitis, will invest up to EUR 115mn in the development of an electric vehicle (EV) charging network in the Baltic States, GlobeNewswire reports. The investment will go towards acquiring EV charging stations. Ignitis plans to install up to 3,000 fast EV charging stations in the Baltic region by the end of…
The threat from Russia is and will remain real, and all NATO allies must understand and take it “extremely seriously,” Estonia’s Prime Minister, Kaja Kallas, stated, The Baltic Times reports. Speaking at the opening debate of a NATO conference in Vilnius, Kallas noted that all allies contributed 2% of GDP to defence in 1988 because…