SEB Lizingas, the leasing arm of Lithuania’s largest commercial
bank SEB, has financed €64m worth of wind power equipment at a site
in Kretinga, Western Lithuania.
The development, implemented by Achema Group subsidiary Renerga,
aims to increase power generation from 16MW to 50MW as a result of
the deal. “We plan to generate some 90 million kWh of electricity
by 2011,” said Bronislovas Lubys, the industrial magnate in charge
of Achema.
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With such plans, and with Lithuania planning to generate 7
percent of its power through renewable means by 2010, more leasing
opportunities in this field seem likely.
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