Ignitis Group, a Lithuania-based integrated utility company, through its subsidiary SP Venta SIA, has signed a €77.5 million (~$86.8 million) project financing agreement with Swedbank AS (Latvia) and Swedbank AB (Lithuania) recently. The 15-year loan, equally split between both lenders, will fund the development of two utility-scale solar farms in Latvia. These include the 145MW Stelpe project across Stelpe and Bārbale parishes in Bauska municipality, and the 94MW Vārme project in Kuldīga municipality. Together, the projects will provide 239MW of installed capacity, expected to supply electricity to approximately 96,000 households. Total investment, including acquisition and construction, is projected at €178 million (~$199.4 million). According to Ignitis Group, the transaction aligns with its target to expand green generation capacity from 1.4GW in 2024 to nearly 5GW by 2030 and will not affect its 2025 EBITDA or investment guidance.