Warsaw—Global law firm Dentons has advised the European Investment Bank and Nordic Investment Bank on a €64 million project financing transaction with Ignitis Renewables, a Lithuanian headquartered international green energy company. The financing will be used to fund the Mažeikiai wind farm in Lithuania. Each bank has provided Ignitis with a 12-year loan of €32 million, for a total of €64 million, which will cover approximately 75% of the total investment in the project.
The 63 MW Mažeikiai wind farm has 14 wind turbines, with a production capacity of more than 200 GWh a year, which is enough to power 90,000 homes. The wind farm commenced operations in August 2023 and will contribute to Lithuania’s green energy transition.
A team from Dentons’ Banking and Finance practice in Warsaw served as lead counsel to the European Investment Bank and Nordic Investment Bank. Partner Mark Segall led the team, with support from counsel Pawel Długoborski, senior associate Łukasz Błaszczak, and trainee Magdalena Luniak. Dentons worked alongside TGS Baltic as Lithuanian counsel.
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