The Ministry of Energy of Lithuania is initiating a loan facility for energy storage installations. The total budget of the facility is up to EUR 100 million.
“Based on transmission grid reservations for storage and the activity of developers, we see that we can become a leader in the Baltic region not only in the development of green power generation but also in the development of storage facilities,” said the Minister of Energy Žygimantas Vaičiūnas. “The synergy of these technologies will ensure a consistent and strong direction towards full energy self-sufficiency for the country, and we are developing incentive instruments to support this.”
The existing “RES Loans to Legal Entities” is being amended, expanding the possibilities of obtaining loans not only for the construction of solar and wind power plants but also for the installation of energy storage systems at renewable electricity generation sources. The loan will be administered by the National Development Bank ILTE.