Lithuania. UAB Vilniaus viešasis transportas
| Date of agreement: | 09 Dec 2024 |
|---|---|
| Country: | Lithuania |
| Customer: | UAB Vilniaus viešasis transportas |
| Amount in EUR: | EUR 40 million |
| Maturity: | 12 years |
| NACE sector / loan type: | Land transport |
This loan contributes to climate change mitigation: 100%
Project
The financing has been granted for the purchase of 73 new trolleybuses and 85 new electric buses for public transport in Vilnius. It is split into a EUR 29.2 million committed facility for trolleybuses and a EUR 10.8 million uncommitted facility for buses.
Vilniaus viešasis transportas (VVT) plans to phase out the operation of diesel buses and transition to zero emissions buses by 2030. By that time, the company aims to eliminate CO2 emissions from its fleet entirely and solely rely on renewable energy.
The new vehicles will replace old trolleybuses and diesel buses. They will increase the service quality in terms of comfort, reliability, frequency and safety.
The new fleet is planned to be purchased during 2024–2026. The total project cost amounts to an estimated EUR 93 million.
VVT is a Vilnius-city-owned public transport services provider in the capital area. The company carries approximately 500,0000 passengers daily.
Fulfilment of NIB's mandate
Productivity:
Trolleybuses
The 73 trolleybuses will replace the old stock which is 30-years-old on average. The total project costs for the trolleybuses are EUR 58.4 million, which is a significant fixed capital creation for the company.
The new trolleybuses will mainly increase the service quality for passengers. They will have lower noise levels, and unlike their predecessors, they will be equipped with climate control systems and low floors, which will substantially increase accessibility for people with mobility restrictions and passengers with children.
In addition, the new trolleybuses will have battery packs, which will allow current routes to be somewhat extended and the trolleybuses to be used in the event of catenary faults.
Electric buses
At a later stage, it is planned to purchase 85 electric buses to replace the current diesel/CNG buses, which are 18-years-old on average. The total project costs for the buses are EUR 34.65 million, which is also a significant fixed capital creation for the company.
The client expects the new buses to bring significant cost savings to their operations. However, the considerably higher capital expenditure will somewhat offset these savings.
Environment
Trolleybuses
The new trolleybuses will replace the ageing fleet and are designed with battery packs that will facilitate route modifications or slight extensions.
The estimated greenhouse gas (GHG) emission reductions related to trolleybuses are minimal.
Electric buses
The new electric buses will replace the ageing diesel fleet, resulting in a GHG emissions reduction of an estimated 6,000 tonnes of CO2e per year, as well as facilitating air pollution reduction.
Impact indicators in relation to the investments:
- Number of vehicles purchased: 73 trolleybuses and 85 buses
- Capex for buses: EUR 35 million
- Capex for trolleybuses: EUR 58 million
- GHG emissions savings from buses: 6,000 tCO2e per year
- Average distance driven by new trolleybuses and buses, km per year
Sustainability summary
The new buses and trolleybuses will run on renewable electricity. The company expects the mileage, service frequency and passenger numbers to increase in the coming years, so the environmental benefits associated with the new fleet may also be higher.
