The Platform TIPS Will Grant a Loan in the Amount of EUR 1.6 Million for Development of the New Solar Park
The platform TIPS (Tvariųjų išteklių plėtros skatinimas) (Promoting Sustainable Resource Development) has signed the second solar park development loan contract with Solarbank UAB 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.
Financing for the project is provided from the funds of the platform TIPS (Tvariųjų išteklių plėtros skatinimas) (Promoting Sustainable Resource Development) established by the Public Investment Development Agency (VIA) in cooperation with the European Energy Efficiency Fund.
The new contract is aimed at financing a 1840 kW capacity solar park located in 7 ha territory in Ignalina District, Didžiasalis Village, which will generate not less than 2,484,000 kWh energy and will save 181 tonnes CO2 equivalent/MWh per year. A loan in the amount of EUR 1.6 million is granted for the project.
“The fact that solar park developers return to us and apply for financing for new projects demonstrate attraction and viability of sustainable investments. Green energy contributes to increasing the energy independence and at the same time creates more sustainable future; thus, the financial instruments allowing to implement the renewable energy projects in a quicker and simpler manner create added value”, maintains Asta Gladkauskienė, the Head of the Customer Support Department of the Public Investment Development Agency (VIPA).
This is already the second loan granted by the platform TIPS to the solar park developer Solarbank. In January 2022, the second stage of development of Solarbank Grikapalis solar park was financed by the funds of the platform TIPS. The first stage was financed by the Public Investment Development Agency (VIPA), total amount of the loans is EUR 2.4 million.
Grikapalis solar park is constructed in 17 ha area. The total capacity (of stages I and II) is 3350 kW and the park generates more than 4,522,500 kWh per year. After use of the services provided by Grikapalis solar park, more than 500 natural and legal persons became producing consumers.
The technological innovations of Didžiasalis solar park have already been tested in the first project of Solarbank and allow to generate almost 40 per cent more electricity than a usual solar power plant and the warranty of operation of the solar power plant is 30 years. Solar parks create a possibility for all residents of Lithuania to become producing green energy consumers.