Green Genius Secures €48.9M for Lithuanian Solar Expansion

• Green Genius secures EUR 48.9M for 89.7-MW solar parks in Lithuania, boosting green energy with 100,000 MWh annually.

Green Genius has secured EUR 48.9 million in loans from Lithuania's National Development Bank ILTE for the construction of an 89.7-MW portfolio of remote solar parks in Lithuania. The financing will support the development of 10 photovoltaic farms, expected to be operational next year, with a combined output exceeding 100,000 MWh annually.

This funding follows a previous partnership with ILTE for a 6.6-MW solar project. Green Genius, part of Modus Group, also received up to EUR 100 million in equity investment from the European Bank for Reconstruction and Development in late 2024 to support its business expansion.

How will Green Genius utilize EUR 48.9 million for Lithuania's solar park development?

• Project Expansion: The EUR 48.9 million will be used to develop 10 new photovoltaic farms, expanding Green Genius's solar energy capacity in Lithuania.
• Infrastructure Development: Funds will be allocated to build the necessary infrastructure for the solar parks, including solar panels, inverters, and grid connections.
• Technology Investment: Investment in advanced solar technology to enhance efficiency and output of the solar parks.
• Job Creation: The project will create jobs in construction, maintenance, and operation of the solar parks.
• Sustainability Goals: The development aligns with Lithuania's renewable energy targets and contributes to reducing carbon emissions.
• Energy Output: The solar parks are expected to generate over 100,000 MWh annually, contributing significantly to the local energy supply.
• Community Engagement: Part of the funding may be used for community outreach and education on the benefits of renewable energy.
• Operational Readiness: Ensuring the solar parks are operational by next year, with a focus on timely project completion.
• Risk Management: Allocation of funds for risk assessment and management to ensure project stability and success.
• Long-term Strategy: The investment supports Green Genius's long-term strategy for growth and expansion in the renewable energy sector.