Green Genius Secures €36.7M for Major Lithuanian Solar Project

• Green Genius secures EUR 36.66M for a 78-MW solar-plus-storage project in Lithuania, aiming to slash 60,457 tonnes of CO2 annually by 2027.

Lithuanian renewables developer Green Genius has secured EUR 36.66 million from French asset manager Rgreen Invest to fund a 78-MW solar-plus-storage project in Lithuania. The financing comes from Rgreen Invest's INFRABRIDGE IV debt fund, which has previously supported Green Genius projects totaling over 60 MW. The project, located near Seduva, spans over 150 hectares and is one of the largest in the company's portfolio.

The Seduva solar plant is expected to connect to Litgrid’s transmission network by spring 2027, with a co-located battery energy storage system planned for the same period. The project aims to cut 60,457 tonnes of CO2 emissions annually. Green Genius received a construction permit in September 2023, estimating a total investment of EUR 70 million.

How will Green Genius's Seduva project impact Lithuania's renewable energy landscape?

• Increased Renewable Capacity: The Seduva project will significantly boost Lithuania's renewable energy capacity, contributing an additional 78 MW to the national grid.
• Energy Independence: By expanding its renewable energy infrastructure, Lithuania can reduce its reliance on imported fossil fuels, enhancing energy security and independence.
• CO2 Emission Reduction: The project is expected to cut 60,457 tonnes of CO2 emissions annually, aligning with Lithuania's climate goals and commitments to reduce greenhouse gas emissions.
• Economic Growth: The investment and development of the Seduva project will create jobs and stimulate economic activity in the region, contributing to local and national economic growth.
• Technological Advancement: The integration of a battery energy storage system with the solar plant will enhance grid stability and reliability, showcasing advanced renewable energy technologies.
• Strategic Location: Situated near Seduva, the project leverages a strategic location for optimal solar energy capture, maximizing efficiency and output.
• Long-term Sustainability: The project supports Lithuania's long-term sustainability goals by increasing the share of renewables in the energy mix and promoting sustainable development practices.
• Regional Leadership: By undertaking large-scale projects like Seduva, Lithuania positions itself as a leader in renewable energy within the Baltic region, potentially influencing neighboring countries to adopt similar initiatives.