Green Genius Raises €6.9M to Power Brewery with Solar
- Green Genius & Citadele Bank join forces to power Svyturys-Utenos alus brewery - 100% Renewable Energy. A 6.9 million euro financing agreement to install solar power plants & energy-as-a-service solution to meet electricity needs. 2.6 million euro funded by European Climate, Infrastructure & Environment Executive Agency.
Green Genius, a renewable energy company, and Citadele Bank in Lithuania have agreed on a 6.9 million euro financing agreement for the installation of a solar power plant and energy-as-a-service solution on the roof of Svyturys-Utenos alus brewery, a member of the Carlsberg Group. The project includes 1.5MW solar power plant and a 2MWh capacity accumulator in Utena, North Lithuania and a 5MW remote solar array and a 4MWh capacity accumulator in Butrimonys, South Lithuania. This will enable the brewery to meet 100% of their electricity needs with renewable energy sources. The Innovation Fund, managed by the European Climate, Infrastructure and Environment Executive Agency, has invested 2.6 million euros to this project. Citadele Bank’s Corporate Banking Head, Vaidas Zagunis, expressed his approval of the project and its contribution to sustainable economic development and innovative technology solutions. Green Genius’s Head of Innovation, Nerijus Virbickas, is looking forward to the success of the battery integration project into the Baltic States.
What Impact Will Green Genius' 6.9M Euro Financing Agreement Have?
The impact of Green Genius' 6.9M Euro financing agreement with Citadele Bank in Lithuania will be far-reaching:
- The project will help the Svyturys-Utenos alus brewery, a member of the Carlsberg Group, meet 100% of their electricity needs with renewable energy sources
- It includes a 1.5MW solar power plant and a 2MWh capacity accumulator in Utena, North Lithuania and a 5MW remote solar array and a 4MWh capacity accumulator in Butrimonys, South Lithuania
- The Innovation Fund, managed by the European Climate, Infrastructure and Environment Executive Agency, has invested 2.6 million euros into the project
- It is expected to contribute to sustainable economic development and innovative technology solutions in the Baltic States
- Green Genius’s Head of Innovation, Nerijus Virbickas, is looking forward to the success of the battery integration project
