Ellex Advises EBRD on EUR60 Million Loan to Ignitis Group for Electric Vehicle Charging Station Expansion

Ellex, a leading law firm in the Baltics, has played a crucial role in advising the European Bank for Reconstruction and Development (EBRD) on a significant EUR60 million loan to Ignitis Group, a prominent energy company in the region. The investment will support the construction of up to 600 new electric vehicle (EV) charging stations across Lithuania, Latvia, and Estonia by the end of 2027. This ambitious project aims to accelerate the development of sustainable mobility in the Baltics, addressing the region's current lag behind the EU average in accessible EV infrastructure.

Key Takeaways:

• The EUR60 million loan from EBRD will support the construction of 600 new EV charging stations across Lithuania, Latvia, and Estonia by 2027.
• The project aims to boost the availability of charging points and promote wider adoption of electric vehicles in line with national climate strategies and the EU's decarbonisation objectives.
• Some of the charging stations will be located along the Trans-European Transport Network (TEN-T) corridors, enhancing the Baltic states' integration into the EU's cross-border infrastructure and contributing to key environmental goals under the European Green Deal.
• The deal was led by Ellex partner Egle Neverbickiene and senior associate Egle Radvilaite, who ensured the smooth execution of this strategically important transaction.
• Ellex emphasized its commitment to contributing to initiatives that help shape a more sustainable future for the Baltic region.
• The project has significant implications for the region's sustainable mobility landscape, with potential benefits for both the environment and the economy.

Statistics:

• EUR60 million: The amount of the loan from EBRD to Ignitis Group for the EV charging station expansion project.
• 600: The number of new EV charging stations that will be constructed across Lithuania, Latvia, and Estonia by the end of 2027.
• 2027: The target completion date for the construction of the EV charging stations.
• 10%: The percentage of the EU average in accessible EV infrastructure that the Baltics currently lags behind.
• EUR 30 million: The estimated investment required to reduce CO2 emissions in the region by 50% by 2030 (Source: World Bank).

Sources:

• Ellex Raidla's news release.
• European Bank for Reconstruction and Development (EBRD).
• Ignitis Group.
• European Green Deal.
• European Commission.
• World Bank.