Green Genius secures EUR 12m in green guarantees from Luminor

Andrius Nańćajus. Source: Luminor Lithuania.

August 10 (Renewables Now) - Green Genius has agreed with Baltic lender Luminor to enlarge the limit of green guarantees granted to the renewable energy developer to EUR 12 million (USD 12.3m), it was announced today.

"The green guarantees provided by the bank to the green energy developer create opportunities for faster and more stable development of green energy projects. These projects will increase the generation of green and independent energy and the region's energy security," commented Rokas Bancevicius, CFO of Green Genius.

Green Genius and Luminor Lithuania signed their first green guarantee agreement in the spring of 2021 and this latest deal is their third one. The renewables developer noted that green guarantees, which are used only for green projects, usually become an essential incentive for early-stage schemes.

With over 10 years of experience in renewable energy production, Green Genius develops solar, biogas, wind and hydrogen projects. Its current presence spans eight European countries. The company has a goal of building 1.5 GW by 2025.

(EUR 1 = USD 1.023)

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