Green Genius inks loan for 15.7 MW of remote solar projects in Lithuania
Green Genius solar power plant. Image source: Green Genius (handout)
August 23 (Renewables Now) - Lithuanian renewables developer Green Genius has signed a loan agreement with Estonia-based lender Luminor Bank to secure EUR 10.3 million (USD 10.2m) for new solar projects in Lithuania.
The renewables company said today that it will use the loan to build 15.7 MW of remote solar farms. Lithuania’s remote solar farm model enables consumers to use solar energy regardless of where the plant itself is located.
No other details were disclosed.
In February this year, Green Genius and Luminor signed their first loan arrangement for remote solar in Lithuania. The funds from that EUR-20-million loan was intended for 35 MW of remote solar projects, with Green Genius targeting Lithuanian companies as off-takers.
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