Renewable

February 14 (Renewables Now) - Lithuanian renewables firm Green Genius has signed an agreement to acquire the rights to an 85-MW wind farm project in the home market, it announced on Monday.

The name of the selling party was not disclosed.

Green Genius said that it will realise the project without the state subsidies, planning to directly invest over EUR 100 million (USD 113.2m) and sell the wind farm’s output to Lithuania-based businesses.

According to the new owner, the future wind farm will feature 15 turbines installed on agricultural land. Agricultural activities will continue once the turbines are up and running, Green Genius said.

Permits for the project had been obtained by the time of the agreement, and the design work is now underway. Equipment manufacturer will be selected during the first half of 2022, the firm said.

Turbine installation will take place in several stages and is seen to finalise by the summer of 2024.

Green Genius says it also has a 75-MW wind project in the development as it pursues the goal of having 1,500 MW of solar, biogas and wind power capacity installed by 2025.

(EUR 1.0 = USD 1.132)

Join Renewables Now's free daily newsletter now!