Events, data and analysis from the Baltic economies
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Latvian development finance institution ALTUM has signed a €70 million loan agreement with the European Investment Bank (EIB) to support energy-efficiency improvements in apartment buildings across Latvia. The EIB loan covers half of a €140 million project expected…
Construction of Klaipėda’s new cruise ship terminal resumed on 13 November after the city and port authority agreed on routes for heavy vehicles delivering materials to the site. The work had been halted for just over a week…
Latvian energy storage developer Saules BESS has completed the commercial launch of its 120 MWh battery storage portfolio across eight solar power sites, according to its latest quarterly disclosure. By the end of September, 90 MWh of storage…
Estonian electric vehicle charging equipment supplier Bercman Energy OÜ has filed a bankruptcy petition with Tartu County Court, according to a stock exchange disclosure by its parent company, Bercman Technologies. The application was submitted on 13 November following…
Developers have marked the start of construction of a thermal spa resort in Giruliai, Klaipėda, with planned investment exceeding €70 million. A symbolic foundation ceremony announced on 13 November marked the beginning of the construction phase of AESTII…
Latvia’s Consumer Rights Protection Centre (PTAC) has fined parking operator Park Expert approximately €122,700 for unfair commercial practices involving the automated imposition of disproportionate contractual penalties. The regulator found that the company’s automated system issued penalties for breaches…
Vilnius Airport has introduced 12 electric passenger buses that will replace the diesel vehicles used to transport travellers between the terminal and aircraft. The investment totals €7.2 million, including maintenance and repairs. The new COBUS vehicles are scheduled…
Estonia’s Ministry of Regional Affairs and Agriculture has granted Latvian bus operator Ecolines a new permit for regular passenger services between Tallinn and Moscow. Ecolines already operates daily departures from Tallinn to Moscow, as well as services to…
Estonia’s Ministry of Economic Affairs and Communications has ordered the Estonian Business and Innovation Agency (EIS) to repay €1.33 million in EU funding associated with a 2023 procurement involving the Estonian Chamber of Commerce and Industry. The case…
Lithuanian energy terminal operator KN Energies has completed front-end engineering design (FEED) studies for a planned CO₂ transshipment terminal at the Port of Klaipėda, confirming the project’s technical feasibility. The seven-month engineering programme was carried out by Norway’s…
Estonian state-owned passenger rail operator Elron has removed Märt Ehrenpreis from its management board, ending his tenure on 10 November. Ehrenpreis joined the board in April 2023 and was responsible for technical operations and train traffic management. His…
Estonian general contractor Evicon Ehitus has been declared bankrupt following an unsuccessful attempt to restructure its finances. An official bankruptcy notice was published on 6 November, and the company’s bankruptcy status was entered in the Estonian business register…
Lidl Lietuva plans to auction a 2.19-hectare development site in the Vilkpėdė district of Vilnius, with a starting price of €13.7 million. The auction is scheduled for 16–17 December. The property, located at Giraitės Street 3 near the…
Lithuanian biotechnology company Biomatter has closed an $18 million Series A funding round led by Astanor, with participation from existing investors UVC Partners, Inventure and Metaplanet. The investment will finance a new 2,000-square-metre enzyme research and testing centre…
Lithuania has launched a €286.93 million funding programme to renovate older apartment buildings, with higher subsidies available to financially vulnerable households. Administered by the Environmental Projects Management Agency (APVA), the programme covers apartment buildings constructed under technical standards…
Latvian financial group INDEXO has secured €15.5 million in binding investor commitments to finance its planned buyout of additional shares in DelfinGroup. On 11 November, INDEXO submitted two prospectuses to Latvijas Banka for approval: one for a voluntary…
Latvia’s Citadele banka has announced the early redemption of €40 million in subordinated bonds issued in 2021 and originally due to mature in 2031. The bank has set 13 December 2026 as the early redemption date for the…
US financial technology group DriveWealth has secured authorisation from the Bank of Lithuania to provide crypto-asset services through its Lithuanian subsidiary, DriveWealth Europe. The authorisation, announced on 10 November under the EU’s Markets in Crypto-Assets Regulation (MiCA), covers…
Dubai-based airline flydubai will resume direct flights to Riga and Vilnius in December, restoring two Baltic connections to its Middle Eastern hub. Services to Riga will begin on 11 December, followed by Vilnius on 12 December. Both destinations…
Latvia will introduce a new financing programme for apartment building renovation on 4 January 2027, shifting support towards interest rate subsidies and commercial lending. The government approved the programme on 10 November. Apartment owners will be eligible for…