EU investments

UAB “TIN CAP” is implementing the project
“Implementation of renewable energy generation capacities at UAB TIN CAP”
No. 02-011-K-0159, financed under the Progress Measure No. 05-001-01-04-02
“Encouraging companies to move towards a climate-neutral economy”
of the Development Programme for Economic Transformation and Competitiveness,
administered by the Ministry of the Economy and Innovation of the Republic of Lithuania (2022–2030).

The total project value is EUR 498,562.29,
with EU funding of EUR 275,000.00.
The project implementation period is from 19 July 2023 to 31 July 2025.

Project objective:
to increase the share of renewable energy (RES) in final energy consumption and to install two solar power plants with a combined capacity of not less than 612 kW.

The project is expected to bring not only financial benefits to the company but also socio-economic advantages, particularly for the residents of the Panevėžys district and surrounding areas.
As the company’s competitiveness and production volumes grow, new jobs will be created, higher wages will be paid, and better working conditions will be ensured.

Moreover, the project will promote the use of renewable energy sources in the industrial sector and contribute to the overall increase of RES in final energy consumption.
This will help to mitigate the negative environmental impact of industrial activities, address air pollution and resource efficiency challenges, and reduce dependence on energy imports.