Renewable energy loans for legal entities

Documents to be submitted	For clients intending to construct or install a power plant	For clients intending to acquire a power plant
Application The instruction for completing the application
Declaration of the status of a small or medium-sized business entity, completed by use of the form on this web page (except for the case when the client confirms that it is not a small or medium-sized business entity).
Documents for identification of the client, indicated in ILTE’s procedure for submission and assessment of applications and requests for direct loans, which is publicly available on ILTE’s website.
Completed and signed questionnaire about the conformity to the Do No Significant Harm principle.
Completed Annex No. 1 “Form of detailed operational (financial) data of the client” to the application, including the rationale for the investments into solar and/or wind power plants for the purpose of calculation of the contribution to climate objectives.
A business plan describing the activities carried out and/or planned to be carried out, the parameters, type of the power plant to be constructed and/or installed and/or acquired, planned stages of connection, etc., current and forecast financial condition, proposal on scheduling the loan instalments and on security for the loan, description of investments and documents supporting the investments, if any, for example, a document permitting construction, technical conditions for connecting the power plant to the grid, permits, licences required for the activities or project implementation, the parameters, type of installation of the power plant to be constructed (installed), planned stages of connection, etc. Forecasts (calculations) of financial activities must also be provided, reflecting the client’s ability to make timely payments of instalments to meet all current and future financial liabilities of the client throughout the entire term of the loan. In preparing the business plan, we suggest to follow the structure of the business plan recommended by Innovation Agency Lithuania.
An interim set of financial statements for the past quarter of the current financial year if more than 40 calendar days passed from the start of the current quarter. In case less than 40 calendar days passed from the start of the current quarter, a set of financial statements for the quarter preceding the past quarter or equivalent documents, when a company operates for less than a year, must be submitted.
Letter of a private investor on its intention to participate in the project financing. Such a letter is to be presented in case a private investor intends to grant a loan. At ILTE’s request, a private investor (not applicable when a private investor is a financial institution) must prove that it is financially capable of participating in the financing of the project and prove the origin of funds to be lent. If the client intends to participate in the financing of the project with its own funds, in such a case, this information must be given the substantiation in the business plan and documents proving the origin of own funds must be presented.
Documents required for the connection of the power plant, including: copies of the valid conditions of connection of the power plant to the energy grid and/or the connection agreement (if any) and/or the permission from the National Energy Regulatory Council (the NERC) to develop electricity generation capacities (the power plant to be installed must be a solar and/or wind power plant). It is in case the client is going to construct or install a power plant with: the installed capacity of no more than 100 kW and the power allowed to be generated for the grid equal to zero; the power allowed to be generated, the installed capacity and the maximum capacity of the electricity generating module of no more than 0.8 kW; the aggregate installed capacity of the power plants to be increased to no more than 100 kW, without increasing the power allowed to be generated, assuming the obligation to build a solar power plant.
Document permitting construction (its number and date and reference to it) if the client has such a document at the time of submitting the application and if such document is mandatory.
Documents proving ownership of the land plot on which the power plant is to be constructed or its possession on any other lawful basis if the client has such a document at the time of submitting the application. The period of lawful possession of the land plot must be no shorter than the effective term of the loan agreement.
Documents proving ownership of the building, structure or its structural part on which the power plant is to be installed or its possession on any other lawful basis if the client has such a document at the time of submitting the application. The period of lawful possession of the structure or its structural part must be no shorter than the effective term of the loan agreement.
Copy of the permission from the NERC to generate electricity issued to the seller from which the power plant (or its part) is going to be acquired if the client has such a document at the time of submitting the application or copy of the permission from the NERC to develop electricity generation capacities (in case the NERC has not yet issued a permission to generate electricity). The NERC permissions must be issued for carrying out activities under the procedure and conditions set in paragraph 8 of Article 201 of the Law of the Republic of Lithuania on Energy from Renewable Sources.
Document proving the completion of the power plant construction operations issued to the seller (its number and date and reference to it) when such a document exists at the time of submitting the application.

Submission, assessment of applications, entry into the loan agreement or refusal to enter into it are regulated by ILTE’s procedure for submission and assessment of applications and requests for direct loans.

All the above documents, when submitted, must be signed with a qualified electronic signature.
We recommend signing documents in Excel and other formats in Signa Web service, one can also sign in the Electronic Archive Information System at https://adoc.archyvai.lt/eais-lpp/app/create or in the Dokobit system at https://app.dokobit.com/. 

Recommended form of the power of attorney

If you want to change the terms and conditions of the loan agreement or make a request (for example, for a permission to assume additional obligations, etc.), it is necessary to log in to the applications system, select “Initiate amendments to contractual terms” and submit the following documents signed with a qualified electronic signature of the head of the entity:

1. request of free form, where the aim of the request and the number of the agreement are specified;
2. detailed form for amendments, which must be submitted in Excel;
3. KYC questionnaire for legal entities*.

*Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC (the GDPR) obligates to inform data subjects about personal data processing, therefore, a person who submits personal data to ILTE must inform data subjects about personal data recipients (ILTE in this case).
When ILTE receives personal data from the applicant and/or its representative, it is important for it to ascertain that data subjects are aware of personal data processing (i.e. they have been given information about personal data processing in accordance with the GDPR), therefore, please introduce data subjects to the Privacy Notice.

If you want to repay the loan or its part in advance, please submit a request signed with a qualified electronic signature of the head of the entity. The request must be sent by e-mail at operacijos@ilte.lt. 

Eligible expenses when the client constructs or installs a power plant:

• Preparation of documentation for the construction and connection of the power plant (preparation of the technical design, issuance of a document permitting construction and the like) if such expenses are incurred after the application is submitted;
• Expenses of laying access roads to the land plot where the solar and/or wind power plant is to be constructed when they account for no more than 10% of all the eligible expenses;
• Land plot landscaping, installation and/or repairs of infrastructure and engineering networks and systems in the land plot and security installation work (including the land plot fencing, lighting costs) (if it is an onshore solar and/or wind power plant);
• Solar and/or wind power plant and related electrical equipment, structures, cables that have to be acquired, also related assembly (set-up) work and other related solar and/or wind power plant construction works under concluded agreements for acquisition of assets, supply and/or service contracts, contractor’s contracts;
• Laying the power link (hanging line/cable) to the solar and/or wind power plant connection point;
• Service fee (contribution) for the connection of the power plant to the electricity distribution and/or transmission network in accordance with the connection conditions (agreement).

Eligible expenses when the client acquires a power plant or its part:

• Investment costs to acquire a built new power plant or its part not operated before the transfer of ownership to the client. Investment costs are eligible when incurred after the date of the application.

• Instrument Description
• Annex No. 4 to the Description. Questionnaire (declaration) for assessing conformity of the project to the Do No Significant Harm principle

Legislation

• Order on approval of the scheme of the financial instrument “Renewable energy loans for legal entities”
• Block Exemption Regulation