Juncker Plan: €12.5 million to develop the first energy efficiency investment platform in Lithuania

The European Investment Bank is providing €12.5 million to Lithuanian Public Investment Development Agency, VIPA. The agreement is backed by the Juncker Plan’s European Fund for Strategic Investments. VIPA will use the financing to create the first national investment platform dedicated to promote and finance energy efficiency projects across Lithuania. The investments will focus on the installation of solar panels on private homes, the renovation of multi-apartment buildings and the implementation of efficient lighting, and will help beneficiaries to cut CO2 emissions and lower their energy bills. Vytenis Andriukaitis, Commissioner for Health and Food Safety, said: “It is vital that we bring our homes and businesses into the 21st century when it comes to their carbon footprint. I am very pleased that the Juncker Plan is supporting Lithuania’s first energy efficiency investment platform. Not only will the projects financed by this platform help Lithuania meet its sustainability objectives, but consumers will see a drop in their energy bills. A win-win.” A press release is available here. As of September 2019, the Juncker Plan has mobilised €433.2 billion of additional investment, including €1.6 billion in Lithuania. The Plan is currently supporting 972,000 small and medium businesses across Europe.