- Press Releases
May 11 (Renewables Now) - Lithuanian renewables firm Green Genius announced today that it will simultaneously install 500 MW of solar and 200 MW of wind farms in its home country by 2025.
It said that it expects to make an investment of EUR 750 million (USD 791.7m) by then.
These projects are being developed all over Lithuania. The company will also look to develop solar and wind hybrid power plants in an effort to use land more efficiently and be able to offer its customers mixed solar-wind electricity “at a friendlier price”, Green Genius CEO Ruslan Sklepovic said.
The plants are planned to start operations at the end of 2024.
"The European Commission has urgently issued a communication to all members of the EU promoting the development of renewable energy as a matter of particular public interest. And we take our role in this process seriously and responsibly,” commented Sklepovic.
“Until now, renewable energy has largely addressed the issue of sustainability. However, today it also addresses the challenges of energy independence and socio-economic well-being," Sklepovic added.
According to Green Genius, 700 MW of wind and solar farms will be capable of producing around 10% of Lithuania’s electricity needs.
(EUR 1.0 = USD 1.056)