Bank Swedbank and wind farm developer Amberwind have signed a long-term funding agreement worth LTL 357 million (EUR 103 million) for the construction of the largest in Lithuania 73.5 megawatt wind farm in Taurage county, informs LETA/ELTA.

The project's total worth is LTL 441 million (EUR 128 million).

Constituted of 30 wind towers, the wind farm will annually produce around 200 gigawatt-hours of electricity. Or the amount of electricity approximately used per year by the city of Alytus. Construction is expected to be completed and the farm to be launched in late 2015.

As the network of wind towers is expanding in Lithuania it reduces the price of wind energy. Electricity produced by the new wind farm will be purchased for LTL 0.25 per kilowatt-hour, by LTL 0.05 less than before. It is one of the lowest electricity prices produced from renewable energy sources in Lithuania.