Pagegiai - the largest onshore wind farm in the Baltic States
Protection with Buyer Credit Cover and Supplier Credit Cover
Saving more than 200,000 tonnes of CO2 emissions annually
In Lithuania, the largest onshore wind farm in the Baltic region is due to be connected to the grid in 2026. The Pagegiai wind farm is being built in the province of the same name - around 80 km south-east of the port city of Klaipeda. 40 wind turbines will supply a total of 264 MW of electricity and contribute to saving more than 200,000 tonnes of CO2 emissions per year.
Major project for the Nordex Group
The exporter is Hamburg-based Nordex Energy SE & Co. It is involved in the project as a subcontractor to the Lithuanian Nordex Lituania UAB and supplies the nacelles manufactured in Germany to Lithuania. Other key elements of the wind turbines come from production facilities in Indonesia and India.
While Nordex Energy is responsible for the delivery of the wind turbines, local companies in Lithuania will construct the foundations and access roads and provide the electrical connections. Nordex Lithuania will be responsible for the maintenance of the wind turbines for 30 years after completion of the wind farm.
Green hydrogen from wind energy
The electricity generated by the Pagegiai wind farm will primarily be used to produce green hydrogen. The company Achema intends to use the wind farm to produce around 30 percent of the ammonia produced from green hydrogen. Achema is part of the Lithuanian Achemos Group and is one of the largest manufacturers of nitrogen fertilizers and chemical products in Europe.
Covered by Export Credit Guarantees
Nord/LB, together with KfW IPEX-Bank and Nordic Investment Bank (NIB), is providing project financing of EUR 330 million for the transaction. The German Government is providing Buyer Credit Cover and Supplier Credit Cover for the project.
Picture credits: ©Nordex / U. Mertens