BaltCap Infrastructure Fund has signed an engineering, procurement and construction contract with Axis Technologies to develop the first infrastructure project financed by Bin.
The project is a 48-megawatt biomass plant in Vilnius, Lithuania’s capital. The deal was signed in Vilnius during the Pan-Baltic Infrastructure Summit 2017. The EPC agreement, worth €16 million ($19 million), states that a 48-megawatt biomass plant near Gariūnai should be built and become operational by the beginning of 2019.
According to estimates, this power plant will generate nearly 10 percent of Vilnius’ heat demand.
“Advanced pipeline of potential infrastructure investments accumulated over the last few years enabled us to sign the first transaction right after the first close of BInF,” said Šarūnas Stepukonis, a partner of BaltCap Infrastructure Fund.
“This new biomass plant will change the balance of the heat supply in Lithuania’s capital — after its comm
