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"We are now putting together a plan for the bond issue. It is a new thing, we have not issued bonds until now and mainly lived on bank loans, however, now is a good time for the bond issue, given the company's rather fair history, the issue should be linked with investments in renewable energy, also possibly with our cogeneration power plant projects," told Misiunas.

In his words, the value of the first bond issue could be 50-100 million euros, with the money first of all spent on existing and projected windmill parks.

Misiunas said the yields of the bonds could be similar to the interest of six-year green bonds issued by Latvia's Latvenergo earlier this year, which stood at about 2%.

"We are looking at a longer-term bonds – 8 to 10 years," he added.

Lietuvos Energija already operates 42.3 megawatt (MW) windmill parks in Lithuania and Estonia, furthermore planning to select a new wind park project by the end of the year and invest up to 100 mln euros. The company is interested in a 46-megawatt wind farm, worth around 72 million euros, in the district of Mazeikiai, in northwestern Lithuania on sale by Orion Asset Management, an investment company of the Swedish-owned group Scaent Baltic, and the Dutch-owned Energy Investment Fund.

Lietuvos Energija plans cogeneration plants in Vilnius and Kaunas, with both projects listed as important to the state.