The European Bank for Reconstruction and Development (EBRD) has approved a €60 million ($68 million) loan to Ignitis Group, a major energy provider in the Baltic states, to expand the region’s electric vehicle (EV) charging network.
The funding will support the installation of up to 600 EV charging stations across Lithuania, Latvia, and Estonia by the end of 2027. The project aims to address the region’s limited public EV infrastructure and advance national climate and energy targets, aligning with broader EU decarbonisation efforts.
Some of the new charging points will be strategically placed along the Trans-European Transport Network (TEN-T) corridors, contributing to the European Green Deal and the EU’s “Fit for 55” objectives to reduce greenhouse gas emissions.
“This investment marks a significant milestone for green mobility in the Baltic region,” said Matteo Patrone, EBRD Vice President for Banking, at the signing ceremony in Vilnius. “It will help address one of the key barriers to EV adoption – the lack of accessible, reliable charging infrastructure – and will thus encourage the wider adoption of electric vehicles and enhance regional connectivity.”
Ignitis Group’s CEO, Darius Maikštėnas, noted that the company tripled its EV charging network in 2024 and continues to expand aggressively. “The new investments will further strengthen this process and give additional impact to the development of the EV industry in the Baltics,” he said.
Ignitis, Lithuania’s largest electricity supplier, has ambitions to become the leading EV charging provider in the region. The EBRD, which became Ignitis’ second-largest shareholder following its 2020 IPO, has invested over €1.8 billion in Lithuania to date, focusing heavily on sustainable infrastructure and the green transition.
