Swedbank joins Lithuanian Wind Energy Association
International News - etea March 16, 2010
VILNIUS, Mar 16, BNS – Swedbank, one of Lithuania’s biggest banks, has joined the Lithuanian Wind Energy Association (LWEA), which brings together around 90 percent of all investors in wind energy in the country.
Swedbank has become a full member of the association, which gives the bank access to all information and services available to its members, as well as the right to participate in the management of the association, the LWEA said in a press release on Tuesday.
“We have been financing wind power parks for five years now; we were the first to undertake financing of this area in Lithuania. This is one of our priority areas of activity; therefore, the membership of the association will enable us to keep in touch with the situation in the Lithuanian wind power sector,” said Vytautas Buciunas, the head of corporate banking at Swedbank.
The bank has to date provided over 400 million litas (EUR 116 mln) in financing for investments in environment-friendly energy projects.
(EUR 1 = LTL 3.45)
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