Green Genius bags Rgreen funding for 65.7 MW of solar in Lithuania

Lithuanian renewables developer Green Genius has sealed a financing agreement with French independent asset manager Rgreen Invest that will back the construction of 65.7 MW of solar parks in Lithuania.

The deal provides Green Genius with EUR 42 million (USD 45.4m) required for the installation of eight photovoltaic (PV) projects at home, the Lithuanian firm said on Monday. It did not provide specific details about each scheme and exact locations.

The proposed capacity is expected to become operational by 2024. Once up and running, the solar parks will have a combined output of around 82,400 MWh per year, which will help offset more than 34,600 tonnes of carbon dioxide (CO2) emissions, Green Genius estimates.

The generated electricity will be supplied to the business to business (B2B) sector.

Last week, Green Genius unveiled plans to build a 100-MW solar complex in Latvia at an investment of some EUR 90 million. The developer expects to secure all needed permits and become ready to kick off construction by June.

(EUR 1.0 = USD 1.080)

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