Erki Ani

European Investment Fund (EIF) teams up with three leading Baltic banks to provide more than €720 million in new financing in the region The EIF is providing guarantee agreements that will facilitate lending by LHV, SEB and Swedbank for projects promoting climate protection and environmental #sustainability in #Estonia, #Latvia and #Lithuania. The guarantee agreements, announced in #Tallinn, are backed by the InvestEU programme. Most of the #financing under the guarantee agreements will support companies with no more than 250 employees, microenterprises with fewer than ten workers, and small mid-caps with up to 500 staff members. Under the agreement, signed in Tallinn , housing associations and natural persons will also be eligible for financing.   “Over the years, the EIF has developed an excellent partnership with Swedbank, SEB Bank and LHV,” EIF Chief Executive Marjut Falkstedt said at the signing ceremony. “Building on this cooperation, these new agreements will ensure that Baltic businesses have better access to finance, empowering them to pursue their aspirations for growth and at the same time helping them to navigate the green transition and contribute to a greener future.” With the guarantee agreements, the banks can offer better financing terms such as lower interest rates, longer maturities and lower collateral requirements. The agreement will benefit start-ups and microenterprises that might otherwise face obstacles in securing investment financing, and will help housing associations to fund energy-efficiency renovations and people to invest in #zeroemissions vehicles and vessels. More than 50% of the financing is meant for #ecofriendly #investments, enabling the banks to step up their support for the green and #sustainable transformation of the Baltic economy. The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and #growth #capital, guarantees and microfinance instruments that specifically target this market segment. Olavi Lepp Ainar Leppänen Marjut Falkstedt Kadri Kiisel To share your startup story write us on - contact@startuprise.io #EIF #fundraising #banking

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VERT, the intuitive electricity price comparison platform we developed for Lithuania's National Energy Regulatory Council (NERC) - was built by the Corner Case Technologies team! VERT empowers consumers to navigate the liberalized energy market with confidence, providing clear plan comparisons, pricing breakdowns, and a seamless user experience. Lithuania's electricity market liberalization is a big deal. It means more competition, more choice, and ultimately, more power in the hands of consumers. At Corner Case Technologies, we thrive on tackling complex challenges and delivering innovative solutions that make a real impact. VERT is a testament to our dedication to shaping the future of energy. Learn more - https://lnkd.in/dm8kEvbN

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All the answers about Renewable Energy in Lithuania are live now! WALLESS Energy team experts have contributed to The Legal 500: Renewable Energy Comparative Guide, revealing insights from production trends to financing strategies. WALLESS Partner Vaidotas Puklevičius and Associate Monika Bucinskaite share details about the industry's transformation, covering net zero targets, key influencers, and more. Get to know the latest news in the evolving landscape of green energy here: https://rb.gy/h56o81 #renewable #energy #insights #legal500 

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The next step in the energy transition is putting every finished solar panel in existence into service. Regarding payment for PV panels, a couple years before the first payment for the panels is due, or even better, a couple years of Chinese and/or American or other governments paying for the panels is an amazing strategic opportunity for global leadership, economic sustainability and status. The energy, i.e., the renewable electrons when supply results in negative pricing, should be free, allowing the free charging of home and EV and batteries. The result will be time of use consumer arbitrage of bidirectional energy and happy economic sustainability, peace, and prosperity. All energy is renewable; solar, wind and geothermal take a thousand years and huge extraction cost, out of the process of plants decaying to produce oil that requires more expensive extraction, processing and delivery than renewables. We need oil to power tomorrow. However, the nation that leads the energy transition will win the post combustion peace and prosperity. Today half the world uses fossil fuels autocratically supplied by the other half. Renewable Energy Independence is the only path to global climate stability, peace, and prosperity. And no, you don't get to, or need to, vote on the energy transition. Evolution includes economics. Our kids have got this. #energytransition #energyindependence #peaceandprosperity #sharethis hashtag #followformore

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🎉 We’re among the Top 10 Sustainable Companies in Lithuania! 🌿 Last fall, "Verslo žinios" and "Swedbank" introduced the Sustainability Index, a complimentary tool for companies to showcase their sustainability efforts on Lithuania's most frequented corporate data site, Rekvizitai. lt. Over 600 companies have embarked on their sustainability evaluations, and 300 have disclosed details about their active initiatives. It's a pleasure to announce that our company ranks 6th among Lithuania's Top 30 sustainable companies! This accomplishment is not just a number but a testament to our commitment to sustainable business practices. We are committed to continuing this journey, proving that sustainability can be integral to business success. For more insights into Lithuania’s top sustainable companies, check out here https://lnkd.in/dQaa3889 #Sustainability #AnywhereForYou #Lithuania #Innovation #BusinessExcellence

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On 28 June 2024, the Competition Council of the Republic of Latvia (KP) published its market monitoring report concerning the competitive situation in heat energy procurement on the right bank of the Daugava in the city of #Riga.   KP identified deficiencies in heat energy procurement as it found that the current model creates advantages for one market participant, AS "Latvenergo". KP proposed to revise the procurement model and open the market. KP suggested that JSC "Rīgas Siltums" should improve the existing procurement model by increasing the proportion of heat energy purchased in the competitive part and ensuring the use of the most efficient technologies.   Our team, led by Mindaugas Cerpickis and Neil Gallagher, assisted Gren, an independent energy producer in Latvia, in demonstrating that the heat procurement model may not stimulate competition in the long term and benefits the incumbent energy producer. #copenhageneconomics #competition #heatenergy #procurement #energy

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As Lithuania rapidly approaches its goal of producing all the electricity it needs and aims to become a significant electricity exporter in the region, Litgrid plans to expand interconnections with other countries and create favorable conditions for energy storage infrastructure development. This year, Litgrid and the Polish transmission system operator PSE are jointly planning to make a final decision on the 700 MW electricity interconnector project with Poland, known as the Harmony Link. Additionally, Litgrid and the Latvian transmission system operator AST are planning to develop electricity lines connecting Lithuania and Latvia. This plan has been included in the 10-year network development plan of ENTSO-E, the organization that unites European transmission system operators. Furthermore, Litgrid is engaged in discussions with one of Germany’s transmission system operators, 50Hertz, regarding the construction of a high-capacity submarine cable to Germany. Such a connection would expand export opportunities for renewable energy producers in Lithuania and improve conditions for hydrogen economy development. “Increasing cross-border transmission capacity will enable greater electricity exports during periods of high solar and wind generation in Lithuania and allow for increased imports when local production is insufficient to meet demand. The energy transformation is closely tied to projected growth in electricity consumption, making enhanced trading opportunities with other countries crucial,” says Rokas Masiulis, CEO of Litgrid. #EnergyTransformationPartners #EnergyIndependence #Renewables

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We have 400 thousand more carbon units! We launched a climate project at SIBUR-Kstovo and have now successfully verified its results with the disclosure of supporting documents. The units have already been registered in the Russian register, making us No. 1 in Russia with a total of more than 3.3 million carbon units. We have implemented new software at SIBUR-Kstovo and installed new gas analyser sensors, driving a reduction in the consumption of steam and the fuel gas needed for its generation. This has enabled us to boost energy efficiency and cut greenhouse gas emissions. The project results were verified by the Innovative Technology Centre of Bauman Moscow State Technical University (https://itc.bmstu.ru/). The Ministry of Economic Development is constantly improving the framework for voluntary climate projects and the trading of carbon units. “We are pleased that SIBUR was the first to issue carbon units in line with the new requirements,” said Ms Irina Petrunina, Director of the Department for Competition, Energy Efficiency, and Environment in the Ministry of Economic Development (https://t.me/MinEconomyrf). We have already implemented (https://lnkd.in/gqS3sP9x) seven climate projects at our production sites. Over ten years, these projects will help cut emissions by 10.8 million tonnes of CO2 equivalent. SIBUR was involved in all of the first major transactions (https://lnkd.in/ea4FU82h) regarding carbon unit sales in Russia. As a partner, SIBUR has ensured the carbon neutral status of major international and business events: the Eastern Economic Forum (https://lnkd.in/ekt3A6kt), St. Petersburg International Economic Forum (https://lnkd.in/efkSBxdQ), and World Youth Festival (https://lnkd.in/eAhf26bi). All of these efforts are part of our sustainability strategy (https://lnkd.in/eGNi2RDt). Would you like to learn more about our climate progress? Find out here (https://lnkd.in/eFa2PXdv).

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 Our CEO, Mihkel Loorits shared his thoughts on solar energy storage. ☀️🗞️ As the prices of solar energy storage solutions have fallen, Loorits predicted that the volume of solar energy storage in Estonia will also grow exponentially in the coming years, 30-60% per year. 🚀 Loorits added that solar parks, combined with onshore wind, are one of the most efficient solutions, bringing the most reasonable price level to the consumer. #sustainability #renewableenergy #solarpower #cleanerfuture Read the full article at the link below ⬇

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Estonia now has a new government! 🇪🇪 Coalition agreement focuses a lot on the development of renewable energy in Estonia. The agreement includes also: The creation of an instrument to facilitate the conclusion of direct electricity purchase agreements between large energy consumers and energy producers. 💡 Our CEO Mihkel Loorits raised the issue in the media at the end of last year. The solution could be moving renewables to a stand-alone market-based platform. "The market-based conversion of renewable energy could take place in such a way that the system operator provides a transparent price-fixing platform based on data collected from market participants, where the price is fixed between producers and consumers," said Mihkel Loorits. Would bring six major advantages over the current system: a favourable and stable price for consumers ✅ the disappearance of the renewables fee ✅ transparency ✅ certainty for producers to make long-term investments ✅ faster development of renewables in general ✅ Read more about the solution at the link below ⬇ #estonia #sustainablefuture

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🌞 Lithuania's Largest Solar Park Opens!🌍💡   On May 2nd, the Molėtai region celebrated the inauguration of Lithuania's largest solar park. Covering 150 hectares and equipped with over 150,000 solar modules, this park has a massive capacity of 100 MW—a significant leap towards Lithuania's energy independence by 2050.   This project not only boosts national electricity production through renewable sources but also aims to sustainably power more homes. Both Daiva Garbaliauskaitė, Deputy Minister of Energy, and Nikolaj Holtet Hoff, CEO of Nordic Solar, emphasized the park's crucial role in enhancing Lithuania’s energy independence and combating climate change.   👉 For more details on this transformative initiative, check out: https://lnkd.in/gs8Z6fwp https://lnkd.in/g9vBrKc4   #RenewableEnergyLithuania #SolarPower #EnergyIndependenceLithuania #LithuaniaCoCreate #CoCreateSolutions

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Taylor Economics has released third edition of the report on Polish deep tech startups! The report’s partners were the Polish Agency for Enterprise Development, Accelpoint, PKO Bank Polski and the Pomorski Park Naukowo-Technologiczny Gdynia / Pomeranian Science and Technology Park Gdynia In this edition, the analysis covered 225 companies registered in 2018-2022, representing high-tech industrial and high tech knowledge service sectors. In the report, the reader will find information about the ownership structure of startups, changes in ownership packages and the financial analysis of deep tech startups. How many companies generate revenues and profits? What is the structure of startup financing? What is the share of the venture capital sector in Polish deep tech ecosystem? Do R&D grants support startup development? the report includes interesting case studies of technology startups and information on the prospects for startup development. We invite you to read the free report DEEP TECH STARTUPS POLAND 2023  https://lnkd.in/dHTADgiC prepared by Taylor Economics and the author's team: Michal Przybylowski, PhD, Piotr Tamowicz PhD, Michał Bańka Ph.D, Darek Lubomski, Anna Zamojska PhD. #startup #hightech #venturecapital #poland #deeptech #innovations

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European smart energy company GridBeyond has raised €52 million in a Series C funding round that was led by Klima, Alantra’s Energy Transition Fund. Founded in 2010, GridBeyond said the new funding will be used to boost its international expansion plans, grow its existing US presence, and for R&D investments. In addition to Klima, the Series C round also featured new investors Energy Impact Partners, Mirova, ABB, Constellation, and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital. “We are delighted to complete this transaction,” remarked Michael Phelan, CEO and co-Founder of GridBeyond. “This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space. “The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world leading AI and powerful automation capabilities to smart grid and energy markets across the world." Since its foundation in 2010, GridBeyond has been developing its AI platform to help businesses unlock the full potential of energy assets, ensuring the sustainability, resilience, and affordability of energy as the world moves towards a zero-carbon future. GridBeyond’s AI platform is aimed at optimising energy assets, including utility-scale renewables generation, battery storage, and energy demand load, helping to bridge the gap between distributed energy resources and the requirements of the power grid. Bastien Gambini, Managing Partner of Klima, added: “GridBeyond has established itself as a VPP leader across different countries, enabling stakeholders throughout the value chain to optimise energy. “We are thrilled to support the company’s expansion and its additional services aimed at guiding customers on their path to achieving net zero-carbon.” Marathon Capital, LLC served as financial advisor to GridBeyond with ByrneWallace LLP as the company’s legal counsel and Mason Hayes & Curran LLP as the lead investor’s legal advisor. #cleanenergy

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#fundingalert 💼Company: Delta Green 💰Funding: €2.2 Million ⚡Round: New Round 👥Investors: Tilia Impact Ventures, which is leading the investment, Credo Ventures, and Purple Ventures—are supporting it. Delta Green. A small but ambitious team striving to reduce household electricity costs and green the Czech energy sector. They are a green-tech startup with a solid foundation in technology and a well-defined goal. The money is intended to support the company's growth into Western Europe and enable it to provide a more comprehensive sustainable energy management programme for homes. Jan Hicl, Andrew Gray, David Brožík Read more - https://lnkd.in/gzJUwez9 To share your startup story write us on - contact@startuprise.co.uk #DeltaGreen #household #Greentechstartup #technology #sustainable #funding #fundingnews #news #startup #startupnews #startuprise

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🌞 Lithuania's Largest Solar Park Opens!🌍💡 On May 2nd, the Molėtai region celebrated the inauguration of Lithuania's largest solar park. Covering 150 hectares and equipped with over 150,000 solar modules, this park has a massive capacity of 100 MW—a significant leap towards Lithuania's energy independence by 2050. This project not only boosts national electricity production through renewable sources but also aims to sustainably power more homes. Both Daiva Garbaliauskaitė, Deputy Minister of Energy, and Nikolaj Holtet Hoff, CEO of Nordic Solar, emphasized the park's crucial role in enhancing Lithuania’s energy independence and combating climate change. 👉 For more details on this transformative initiative, check out: https://lnkd.in/dt3vUwbG https://lnkd.in/dPQHZfxC #RenewableEnergyLithuania #SolarPower #EnergyIndependenceLithuania #LithuaniaCoCreate #CoCreateSolutions

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Renewable energy company GREEN GENIUS has partnered with Nala Renewables (Nala) by agreeing to sell a 34MW solar portfolio in Lithuania.   Along with the initial 34MW of operational assets, Nala has also signed an agreement with Green Genius to acquire an additional 45MW of PV projects soon, which will increase the total capacity of the Lithuanian sites to 79MW. The complete portfolio is expected to generate approximately 96,000 MWh of clean energy annually, meeting the energy needs of about 9,500 households and reducing around 20,000 tonnes of CO2 equivalent emissions each year. Click the link below for the full story and follow us for daily mandates & news. #solarpv #solarpower #renewables

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Nordic Solar A/S unveils Moletai's largest solar park, inaugurated amidst distinguished guests, including the Danish Ambassador and local officials. This 100-MWp solar park powers 28,000 European households annually, reinforcing Lithuania's commitment to energy independence. Nikolaj Holtet Hoff, CEO of Nordic Solar, highlights the collaborative effort between Danish and Lithuanian entities, marking the park's significance in bolstering solar energy capabilities. With plans for two more parks, Nordic Solar's investment underscores Lithuania's path to energy autonomy. Beyond energy production, the park promotes biodiversity with innovative design. Connected to the grid and backed by Enefit Green, this project signifies progress towards Lithuania's green energy targets and showcases fruitful international collaboration. #renewableenergy #solarpower #lithuania #solarnews #solar #renewables

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🎧 Listen to FORESIGHT Climate & Energy's latest podcast episode featuring Kristian Ruby 👉 https://lnkd.in/evcxJ6PH Our Secretary General joined the Policy Dispatch to look at the current situation of Europe's grids and what is needed to get them ready for the growth in renewables and electricity demand expected up to 2050. We'll need to invest €67 billion every year until 2050 to keep up with the doubling of electricity consumption. This could be reduced to €55 billion a year if the rollout is done efficiently and is supported properly. Learn more from our two new flagship reports: ⚡ #Grids4Speed, showing why we need to invest in grids if we want to achieve our decarbonisation goals: https://bit.ly/3ysMmPP ⚡ #Wired4Tomorrow, which serves as a roadmap for Distribution System Operators to go digital: https://bit.ly/4dI6rlk Sam Morgan | Kira Taylor | Eleonora Rinaldi #energy #electricity #electrification #decarbonisation #digitalisation

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