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TGS Baltic Advises EIB on EUR 25 Million Loan to Klaipedos Vanduo

TGS Baltic Advises EIB on EUR 25 Million Loan to Klaipedos Vanduo

Lithuania
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TGS Baltic has advised the European Investment Bank on its EUR 25 million loan agreement with Klaipeda municipal water utility company Klaipedos Vanduo in Lithuania, to support its 2023-2026 investment program.

According to the firm, the financing package includes the construction and rehabilitation of the water supply, stormwater, and sewer networks; and the extension, rehabilitation, and modernization of water supply, wastewater, and stormwater treatment plants and their connected infrastructure. It also includes the purchase of water meters, operation and maintenance equipment and machinery, and investments to improve ICT processes.

"The project aims to improve the reliability and affordability of the water supply and wastewater management services, positively affecting people living in the Klaipėda service area," TGS Baltic announced. "The investments will also support climate adaptation, mitigation, and environmental sustainability, as they will enable Klaipedos Vanduo to generate renewable energy, reduce its energy consumption, better cope with more frequent and intense rains due to climate change, and reduce groundwater and surface water pollution."

The TGS Baltic team included Partner Zygimantas Stankevicius, Senior Associate Sebastian Okinczyc, and Junior Associate Evelina Savickaite.

TGS Baltic did not respond to our inquiry on the matter.

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