Financing of EUR 100 million granted to EPSO-G energy group
We are providing EUR 100 million in financing to the state-owned energy transmission and exchange company group EPSO-G. Our financing will ensure liquidity for EPSO-G, which executes strategically significant energy projects, allowing for the balancing of cash flows within the group's companies during periods of significant investment implementation.
"We value the long-term cooperation with OP Corporate Bank and are pleased with the partnership in implementing important strategic projects for the state. The granted overdraft limit is a significant measure to ensure financial liquidity for the group of companies, which helps Lithuania move towards energy independence," says Darius Kasauskas, CFO of the EPSO-G group.
"We are pleased to support the group that strengthens Lithuania's energy independence and implements the country's integration into the Western energy system. Offshore wind generation, energy storage – these are green energy initiatives we must pursue for a sustainable economy, and consistent financing is essential for this," says Leda Irzikeviciene, Country Manager of OP Corporate Bank Lithuania branch.
Our bank in Lithuania has been collaborating with the EPSO-G group for a decade. We provide daily banking services and financing for current assets and investment projects to the group's companies.
We have been operating in Lithuania for eleven years. We are the fifth largest bank in Lithuania by the portfolio of business loans granted, totalling EUR 1.3 billion. In Lithuania, we work with large and leading medium-sized companies.
We are part of the largest financial services group in Finland, the "OP Financial Group," which had revenues of EUR 4.775 billion last year. The group employs an average of 13,000 people.