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VILNIUS - Ignitis Group, a leading energy company in the Baltics, has signed a EUR 60 million loan agreement with the European Bank for Reconstruction and Development (EBRD) on Monday. The ten-year loan will fund the expansion of an electric vehicle (EV) fast charging network across Lithuania, Latvia, and Estonia, aiming to install up to 600 new charging stations by the end of 2027.
This strategic investment, totaling approximately EUR 76 million, underscores the Group’s commitment to enhancing the region’s EV infrastructure. The project also benefits from a potential grant of up to EUR 3.78 million from the Connecting Europe Facility’s Transport Alternative Fuels Infrastructure Facility.
As of the first quarter of 2025, Ignitis Group has established 1,286 EV charging points throughout the Baltic states. The company’s EV charging network, Ignitis ON, saw 4.6 GWh of electricity used for charging across the Baltics in 2024, reflecting the growing adoption of electric vehicles in the region.
The financing agreement and the associated infrastructure development do not impact the Group’s financial guidance for 2025, including its Adjusted EBITDA and Investment guidance.
The initiative is part of a broader effort to support the transition to sustainable transportation in the Baltic region. By enhancing the EV charging infrastructure, Ignitis Group aims to facilitate greater uptake of electric vehicles, contributing to environmental sustainability and energy independence.
This move aligns with the European Union’s goals to reduce greenhouse gas emissions and promote cleaner modes of transportation. The expansion of the EV charging network by Ignitis is expected to play a significant role in the region’s shift towards greener energy solutions.
The information regarding the loan agreement and the development of the EV charging network is based on a press release statement from Ignitis Group.
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