Green Genius protects finance for Lithuania PV

• Luminor Bank will give a EUR10.3 m funding for the building and construction of remote solar parks completing 15.7 MW.

Renewables programmer Green Genius has safeguarded a EUR10m funding from Luminor Bank for the building and construction of solar parks in Lithuania.

The EUR10.3 m facility will be used for the building and construction of remote solar parks amounting to 15.7 MW.

The approach enables the manufacturing as well as use of green electrical power in different places, Green Genius claimed.

For instance, electrical energy produced in a remote solar park in west Lithuania could be used in south Lithuania or elsewhere in the nation.

" Stability and also the ability to adjust to continuously changing market problems are crucial to attaining green power and energy independence objectives.

" Therefore, the role of banks is a vital one. That's why we extremely value Luminor's reliable collaboration," claimed Rokas Bancevičius, chief money officer of Green Genius.

" Green power projects are taken into consideration a priority, so we proactively sustain companies applying environmentally substantial strategies in Lithuania," claims Andrius Načajus, head of Luminor bank in Lithuania.

The financing follows on from a previous transaction, when Luminor and Green Genius signed a EUR20m value transaction back in February to be bought the construction of remote solar parks with a capacity of 35MW in Lithuania