BAKU, Azerbaijan, June 3. The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of electric vehicle (EV) charging infrastructure in the Baltic region by providing a 60 million euro loan to Ignitis Group, a leading energy company in the Baltics, Trend reports.
The funding will be used to build up to 600 EV charging stations across the Baltic states by the end of 2027. This project aims to improve access to public charging points, which remains limited in the region compared to other EU countries, helping the Baltics meet their national energy and climate targets.
Some of the new charging stations will be installed along Trans-European Transport Network (TEN-T) corridors, supporting the EU’s transport decarbonisation efforts under the “Fit for 55” package and the European Green Deal.
Matteo Patrone, EBRD Vice President for Banking, said the investment will address a key barrier to EV adoption - lack of accessible and reliable charging infrastructure - and promote wider use of electric vehicles while improving regional connectivity.
Ignitis CEO Darius Maikštėnas noted that their charging network tripled in size in 2024 and that the company is continuing to expand across the Baltic states. He said the new investment will further strengthen the development of EV infrastructure in the region.
Ignitis is Lithuania’s largest electricity supplier and aims to become the leading public EV charging provider in the Baltics. The EBRD is the company’s second largest shareholder since its IPO in 2020.
Since starting operations in Lithuania, the EBRD has invested over 1.8 billion euros in 143 projects, with a focus on sustainable infrastructure and the green transition.