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How the EIB shoulders risk in offshore wind funding
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Interim report for the first quarter of 2021
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Lithuania’s Ignitis preps for green growth in Poland
Lithuanian renewables-focused utility Ignitis Group, or AB Ignitis Grupe, said on 5 May that it plans to acquire a shell company in Poland to facilitate future investments in local green energy projects.
Specifically, UAB Ignitis Renewables is getting ready to sign a deal in the nearest future in relation to the purchase of Poland-registered Dolcetto Sp. z o.o.
The particular firm has not conducted any activities prior to this agreement and Ignitis wants to utilise it “to accummulate competences and other resources, which will be used to acquire and develop green energy projects in the Polish market.”
In a year heavily marked by the COVID-19 pandemic, the EIB Group confirmed its strong support to the Polish economy, providing
€5.2 billion of overall financing to the country’s public and private sectors. Volumes delivered in 2020 were largely in line with the trend of the previous years, a sign that the country responded swiftly to the pandemic and continued to invest in the future despite the forced downturn.
Loans granted by the European Investment Bank (EIB) amounted to
€4.6 billion, while the European Investment Fund (EIF) provided
€660 million in guarantees and equity investments to small and medium-sized businesses and mid-caps. In absolute terms, Poland was the fifth biggest recipient of EIB Group financing among the 27 EU Member States after Italy, France, Spain and Germany.
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