EIB considers financing two waste to energy plants in Lithuania

The European Investment Bank (EIB) is considering financing the construction of two biomass-fired and waste-to-energy-fired combined heat and power (CHP) plants with a total capacity of 88 MWe and 227 MWth supplying electricity to the national grid and heat to the district heating system in Vilnius.

The project will ensure a reliable heat supply to the district heating network, improve the security of supply in electricity in Lithuania, increase the competition on the Lithuanian electricity market and, thanks to the use of renewable fuel and waste, increase the diversification of the power sector.

The EIB announced on its website that the bank is considering financing the projects with a €190 million loan. 

The projects are owned by Lietuvos Energija UAB, a state-controlled energy holding company in Lithuania. It controls companies involved in power and heat generation and distribution, natural gas trade and distribution, and supporting services. Its shares belong to the Ministry of Finance of the Republic of Lithuania.