Estonian group to build €1 billion wind farm in Lithuania
12 April 2023
Green energy specialist Evecon has announced plans to develop a 500MW wind or hybrid power farm in Lithuania.
The most recent plans call for the construction of 62 wind turbines, each with a capacity of up to 8MW, in the country’s eastern districts of Moletai and Sirvintos.
Evecon’s Lithuania-based subsidiary, Zalia Zeme – a recently registered entity, specifically established to undertake the project – has estimated construction costs for the farm of approximately €1 billion, with funding expected to come primarily from international investors.
In a statement to BNS News, Zalia Zeme’s director, Darius Narmontas, said, “We are already in talks with some of the world’s biggest funds on the construction of this farm. As the talks are still ongoing, we have eight candidates.”
Narmontas added, “We want to become minority shareholders: to develop the project to completion and bring in funds as majority shareholders.”
Construction permits are expected to be granted by the middle of 2024, with the wind farm potentially operational by 2027.