Lithuania. Republic of Lithuania
| Date of agreement: | 26 Oct 2023 |
|---|---|
| Country: | Lithuania |
| Customer: | Republic of Lithuania |
| Amount in EUR: | EUR 57.5 million |
| Maturity: | 20 years |
| NACE sector / loan type: | Real estate activities |
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Energy efficiency
Amount disbursed: EUR 18 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The uncommitted credit facility has been provided to finance an energy efficiency programme for public buildings during 2023–2026.
The scope of the project financed by NIB’s loan covers the renovation of 25 sites, with a total combined area of 77,000 square meters.
The programme is part of a longer-term Lithuania’s investment plan to refurbish the country’s public building stock. The plan is being implemented by Turto Bankas, a state-owned enterprise that centrally manages state real property for administrative purposes.
Fulfilment of NIB's mandate
Productivity:
The renovations will increase energy efficiency and bring some financial savings. They will also improve the quality of the work environment by ensuring better air quality, noise insulation or lighting conditions. After the refurbishment, the buildings will comply with safety and mobility requirements, improving access to public buildings. Moreover, the lifetime of the buildings will be significantly extended.
Environment:
All the buildings included in the project scope are expected to significantly improve the energy classes, in most cases from energy classes F or D to energy class B.
The refurbishments include improvements to heating systems, insulation, lighting and electrical equipment. It is estimated that the renovated buildings’ energy consumption will decrease by at least 6.8 GWh, or at least 30% annually.
Estimated impacts in relation to the investments:
- Annual energy savings: at least 30%
- Improved energy class: by 2 classes
- Number of sites renovated: 25
- Area of sites renovated: 77,000 sqm
Sustainability summary
The project scope entails the renovation of 25 public buildings, such as the Lithuanian Employment Service, the State Plant Service, local State Tax Inspectorates, and other governmental institutions. Some of the buildings have already received the necessary permits and are in the refurbishment phase.
The estimated CO2e reduction related to the refurbishment could amount to 929 tonnes per year.
Moreover, all the buildings will be equipped with electric car charging stations. Most of the buildings will be equipped with solar panels, with a total power of 2,700 kW.
