BaltCap commits €1.5m to Lithuanian wind farm

The investment was made via the BaltCap Lithuania SME fund, and marks the vehicle's first foray into renewable energy. BaltCap has teamed up with Renagro, a Lithuanian renewable energy, agriculture and real estate investor. The duo has invested more than €10m into Eurakras, a wind farm development company. A further €25m of financing will be provided by a commercial bank.

Company
The wind farm is expected to be operational in the second half of 2015.

People
Kornelijus Čelutka is an investment director at BaltCap and Sarunas Stepukonis, associate director of BaltCap, also worked on the deal. Gražvydas Zulanas is the CEO of Renagro.

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