Green Genius Sells 79 MWp Lithuania Solar to Nala

• Green Genius sells 34 MWp of solar farms to Nala Renewables, expanding their Lithuanian portfolio to 79 MWp and entering the Central and Eastern European market.

Green Genius, a Lithuanian renewables developer, has agreed to sell 34 MWp of solar farms to Nala Renewables, allowing Nala to enter the Central and Eastern European market. Additionally, Nala has signed an agreement to acquire an additional 45 MWp of solar projects from Green Genius, bringing the total size of its Lithuanian portfolio to 79 MWp. These solar farms are expected to generate around 96 GWh of electricity annually, meeting the needs of approximately 9,500 households.

Nala Renewables is a joint venture between IFM Investors and Trafigura Group Pte Ltd, with Director Will Herlinger expressing excitement about expanding into Lithuania and the strategic importance of Central and Eastern Europe for their business. The companies did not disclose further details about the deal.

What is the significance of Nala Renewables' acquisition of solar farms in Lithuania?

• Nala Renewables' acquisition of solar farms in Lithuania marks their entry into the Central and Eastern European market, showcasing their commitment to expanding their renewable energy portfolio globally.
  
• The acquisition of 79 MWp of solar projects from Green Genius will significantly increase Nala Renewables' renewable energy capacity and help them meet the electricity needs of approximately 9,500 households in Lithuania.
  
• The strategic importance of Central and Eastern Europe for Nala Renewables is highlighted by Director Will Herlinger, indicating the region's potential for growth and development in the renewable energy sector.
  
• The joint venture between IFM Investors and Trafigura Group Pte Ltd demonstrates a strong partnership in pursuing sustainable energy solutions and investing in renewable energy projects worldwide.
• The undisclosed details of the deal suggest that Nala Renewables and Green Genius have reached a mutually beneficial agreement that will contribute to the growth of the renewable energy industry in Lithuania and beyond.