Green Genius to stop procedures in Belarus
- Green Genius, part of Lithuania's Modus Group, on Thursday claimed it has actually made a decision to leave Belarus, where it has more than 60 workers, due to the war versus Ukraine.
The renewable resource firm operates 8 biogas plants and also one solar park in Belarus totalling 15.6 MW, which, it claimed, stands for less than 1% of its portfolio of more than 1,600 MW of established as well as under development projects.
Green Genius chief executive Ruslanas Sklepovicius claimed the firm "can not continue procedures in Belarus-- the country that contributes to this unjustifiable battle as well as permits to utilize its region as a platform for criminal actions."
Green Genius is presently looking for solutions for a rapid exit from the marketplace in appointment with the European Bank for Reconstruction and Development (EBRD), which provided financing for the projects. Sklepovicius claimed the business is "working very closely with financial companions, attorneys, consultants and other events to find the best as well as fastest solutions for exit in the current situation."
Green Genius has not made investments in Belarus after the 2020 elections and has never run in Russia. The business said it will fucus on various other European markets where it establishes solar, wind and biogas projects as well as help boost the continent's power independence.