Nordic Solar Secures EUR 24.15 Million for Lithuanian Solar Park
Deal News | Apr 25, 2025 | CEE Legal Matters
Nordic Solar, a Danish solar developer, has successfully secured EUR 24.15 million in financing from Swedbank, facilitated by Ellex, a legal advisory firm. This funding will assist in the completion of an 80-megawatt photovoltaic park located in the Svencionys district of Lithuania. The project utilizes a unique European-patented Danish steel mounting structure that supports cutting-edge bifacial solar modules, optimizing power output. It is set to generate sufficient renewable electricity to power more than 40,000 households. The legal advisory team at Ellex included Associate Partner Egle Neverbickiene and Associate Elvika Lescinskaite, though they did not provide a comment on the transaction.
Sectors
- Renewable Energy
- Legal Advisory
- Financial Services
Geography
- Lithuania – The location of the solar park project is in the Svencionys district in Lithuania.
- Denmark – Nordic Solar, the company behind the project, is a Danish solar developer.
Industry
- Renewable Energy – The article involves the development of a solar energy project, aligning it with the Renewable Energy sector.
- Legal Advisory – Ellex, a legal advisory firm, played a key role in securing financing for the project.
- Financial Services – Swedbank provided the financing, associating the article with the Financial Services sector.
Financials
- EUR 24.15 million – The amount of financing secured by Nordic Solar from Swedbank.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nordic Solar | Target Company | Company | A Danish solar developer responsible for the Svencionys solar park project. |
| Swedbank | Bidding Company/Financier | Company | A financial institution providing EUR 24.15 million in financing for the project. |
| Ellex | Legal Advisor | Company | A legal firm advising Nordic Solar on the financing transaction. |
| Egle Neverbickiene | Associate Partner | Person | Member of the Ellex team advising on the project financing. |
| Elvika Lescinskaite | Associate | Person | Member of the Ellex team advising on the project financing. |