Green Genius safeguards EUR 20m in funding for solar projects in Spain, Italy

• Lithuanian renewables programmer Green Genius claimed on Monday that is has actually protected EUR 20 million (USD 23.2 m) in funding from French possession administration company Eiffel Investment Group to finalise the growth of solar PV projects in Italy and also Spain.

The funds were prolonged by the French group's energy change lorries and will certainly spend for the pre-construction prices of the projects.

"This deal is extraordinary as the funding is not granted to a single ready-to-build project however to a portfolio of projects finishing their development in order to finance their pre-construction capex, while benefiting from the diversity of the portfolio," stated Green Genius CFO Rokas Bancevicius.

Information about the projects were not divulged.

Green Genius carried out a varied series of solar energy projects in Lithuania, Ukraine, Poland as well as Belarus, according to its internet site. Presently, the firm is working on renewables in Lithuania, Poland, Spain, Italy as well as Romania.

Green Genius anticipates the complete capacity of its carried out renewable energy projects to reach 1.5 GW in 2025, the company included.