Renewable

May 18 (Renewables Now) - Green Genius has secured PLN 175 million (39.7m/EUR 37.6m) to finance the construction of 66 MW of solar power plants in Poland.

The Lithuanian renewables firm said today it has signed a debt funding agreement with Sequoia Investment Management Company Ltd, investment advisor of London-listed Sequoia Economic Infrastructure Income Fund Ltd (LON:SEQI). This is the first financing transaction between Green Genius and Sequoia.

Dolf Kohnhorst, partner at Sequoia, said the deal extended the company’s investments in the renewable sector and expanded its geography at an important time.

Green Genius expects to complete the construction of the 66 MW of photovoltaic (PV) parks in early 2023. Since 2019, it has already developed three solar projects totalling 128.1 MW in Poland.

Currently, the company is developing renewable energy projects in eight countries in Europe.

(PLN 1 = USD 0.227/EUR 0.215)

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