Nordic Investment Bank (NIB) and UAB LT Energija have signed a €100 million loan for a 264 MW wind farm in Pagegiai, in Lithuania. The loan will finance 40 wind turbines and associated infrastructure that will generate electricity for the production of green ammonia for AB Achema, the largest producer of fertilizers in the Baltic countries.
The European Union will support €43.5 million of the loan based on NIB’s InvestEU Framework Operation on Clean Energy Transition, which provides the EU with funding for its top policy priorities, including the European Green Deal. NIB is a financial institution co-owned by eight Baltic and Scandinavian nations.
The Pagegiai wind farm is expected to begin operations in the third quarter of 2026. It will generate over 600 GWh of renewable energy annually, which will be used by Achema to produce green hydrogen and green ammonia to be used in downstream fertilizer production.
The current Alchema production facilities expect to avoid 202,000 mt/y of CO2 emissions by substituting their natural gas feedstock with the renewable energy input.