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Green Genius secures 20 million euros for solar PV projects

Lithuania’s renewable energy developer Green Genius received 20 million euros from Eiffel Investment Group to finalise its solar photovoltaic projects in Italy and Spain.

“This transaction is exceptional as the financing is not granted to a single ready-to-build project but to a portfolio of projects finishing their development in order to finance their pre-construction CAPEX,” said Rokas Bancevičius, CFO of Green Genius.

Stressing the European Union’s rapidly growing renewable energy needs and ambitious targets for the decarbonisation of its economies by 2050, Mr Bancevičius added that “this evidences the trust of a financial institution such as Eiffel Investment Group in our robustness and our competencies in the development of renewable energy projects in different countries”.

Green Genius develops green energy projects in eight European markets that include Lithuania, Poland, Hungary, Romania, Spain, Italy and non-member states such as Belarus and Ukraine.

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