en.Wedoany.com Reported - The European Investment Bank recently approved approximately €100 million (approximately US$108 million) in financing to support the Klaipėda Green Energy Port project in Lithuania. The total project cost is €201 million (approximately US$217 million), and it will be implemented by the Klaipėda State Seaport Authority, involving upgrades to this core port within the Trans-European Transport Network.

As a state-owned enterprise in Lithuania, the Klaipėda State Seaport Authority is responsible for the management, development, and maintenance of port infrastructure. The project's core is an investment portfolio comprising 13 sub-projects, covering port infrastructure, maritime systems, and energy transition assets. The measures will promote the deployment of offshore renewable energy and enhance military mobility logistics. Through this upgrade, the Port of Klaipėda will be positioned as a multifunctional hub integrating cargo handling, maritime services, and green energy.

The project also incorporates dual-use capabilities, including logistical support for allied warships, to enhance the resilience and strategic autonomy of the European transport network. Environmental reviews will follow the EU framework, covering impact assessments, biodiversity, water resource management, and strategic planning, and are expected to contribute to climate mitigation goals.

The European Investment Bank, the European Union's long-term lending institution, provides financing for projects that align with EU policy objectives. This financial support for the Klaipėda Green Port project will be used for infrastructure expansion and operational transformations to enhance the port's capacity, throughput efficiency, and logistics performance.

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