TIPS Investment Platform
Public Investment Development Agency (VIPA) and European Energy Efficiency Fund (eeef) invested in a limited partnership “Tvariųjų Išteklių Plėtros Skatinimas” (TIPS) (English: Promoting Sustainable Resource Development).
The aim of TIPS is to ensure efficient energy consumption, promote the development of green energy and contribute to the creation of a sustainable and modern economy in Lithuania.
The main objective of the activities of TIPS shall be the financing of the projects designed to increase energy efficiency, the generation of energy from renewable energy sources and the measures aimed at reducing final energy consumption in the territory of the Republic of Lithuania.
The Platform TIPS Will Grant a Loan in the Amount of EUR 1.6 Million for Development of the New Solar ParkTIPS financing opens opportunities for companies and organisations to increase energy efficiency
TIPS has signed the second solar park development loan contract with Solarbank for financing of the solar park in Didžiasalis. It is the second solar park with the double acting solar models and the solar tracking system manufactured in Lithuania and meeting the sustainability and circularity requirements. The park will provide electricity to 286 producing consumers.
As the prices of energy sources increase and the risks have significantly increased due to stable supply of energy sources, more and more companies revise their energy consumption habits and seek for more beneficial alternatives. Increasing energy efficiency has become one of the solutions for companies which consume a significant amount of energy.
The European Energy Efficiency Fund (eeef) presents the first podcast on sustainable investments. The host Rahul Pratap Singh, eeef Investment Manager and special guest Asta Gladkauskienė, head of the Private Clients Department at VIPA, discuss the issues of energy efficiency project implementation and financing possibilities of the investment platform ‘Promotion of Sustainable Resource Development’ (TIPS), established by VIPA.
Sustainable Resources Development platform – JV of VIPA and eeef – will allocate 2.4 million euros for the development of the solar plant in LithuaniaNew Funding Opportunities for Sustainable Energy Projects
In January 2022 a solar plant development in Grikapalis in Lithuania loan agreement was signed with UAB Solarbank. Compared to the most modern gas-fired power plant in Lithuania, this solar plant will save 1 478 tons of CO2 equivalent per year by producing the same amount of electricity, and thus contributing to avoid the effects of climate change. The new agreement is intended for financing the second phase of the development of this solar plant. The first phase was also funded by VIPA and completed in November 2021. Phase II loan amounts to 1.09 million euros, while the total sum of loans is 2.4 million euros.
A new investment platform TIPS for the funding of sustainable energy projects has been launched in Lithuania. The capital of this funding platform established by VIPA in cooperation with the investment company European Energy Efficiency Fund (eeef) already totals EUR 24.5 million. The plan is to raise another EUR 12.5 in investments in the future, so the total loan portfolio will amount to EUR 37 million.
VIPA has established an investment platform for financing sustainable projects together with the European Energy Efficiency Fund
VIPA invested in the limited partnership Tvariųjų Išteklių Plėtros Skatinimas (TIPS) (English: Promoting Sustainable Resource Development) together with the European Energy Efficiency Fund (eeef) the main purpose of which is to finance sustainable investments, contributing to the mitigation of direct consequences of climate change.