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 a client constructs or installs a power plant or energy storage system:

• Preparation of documentation for the construction and connection of a power plant or energy storage system (connected at the same grid connection point as an existing solar, wind, or hybrid power plant), including technical and working design preparation, construction permits, and other related documentation—provided these expenses are incurred after the application submission;
• Construction costs of access roads to the land plot where the solar and/or wind power plant is being built, when these costs do not exceed 10% of the total eligible expenses;
• Land plot preparation, installation and/or improvement of infrastructure and utility networks/systems on the site, and installation of security measures (including fencing and lighting costs), if the solar and/or wind power plant is built on land;
• Procurement of the necessary electrotechnical equipment, structures, cables for the solar, wind, or hybrid power plant, along with related installation (adjustment) works and other construction works of the solar and/or wind power plant, as defined in asset acquisition, supply, and/or service contracts;
• Construction work for the electricity connection (overhead line/cable) up to the connection point of the solar, wind, or hybrid power plant;
• Fee for connecting the power plant or energy storage system to the electricity distribution and/or transmission network, according to the connection terms (contract). Additionally, if the client is a municipal administration (borrowing on behalf of a municipality), costs related to the fulfillment of obligations and related contributions/payments are eligible, provided they are refunded to the Lender within 10 working days after the obligations are fulfilled or the guarantee period ends, as part of the loan granted to the municipal administration;
• The expenses specified in sub-paragraphs 6.1.9 to 6.1.14 of the description, when the energy storage system is part of a single investment.

Eligible expenses when a client acquires a power plant or part of it:

• Investment expenses for the acquisition of a newly built but not yet operated power plant or part of it prior to transfer of ownership to the client. These expenses are eligible if incurred after the application submission date.

Eligible expenses when a client acquires and installs an energy storage system:

• Purchase costs of the energy storage system;
• Installation costs of the energy storage system;
• Costs of acquiring and installing necessary accessories for the energy storage system (e.g., charger, hybrid inverter, etc.);
• Installation of a power connection that is owned by the client, including electricity metering devices;
• Costs for connecting the energy storage system to the electricity network;
• Design costs for the energy storage system.

Project expenses are eligible for financing if the supporting documents are issued to the loan recipient or their authorized representative. These loan funds may be used to cover the project and implementation-related expenses.

• Description (current version)
• Description (24 January to 17 April 2025)
• Description (from 30 June 2024 to 23 January 2025)
• Annex 4 to the Description - Project Assessment Questionnaire (Declaration) (current version)
• Description (28 March to 30 June 2024)

Legislation

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