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Luminor and Green Genius sign €10.3 million deal to build remote solar parks

Lithuania’s renewable energy company Green Genius signed a 10.3 million euros deal with Luminor Bank to construct remote solar parks in the country. 

The total capacity of remote solar parks will be 15.7 megawatts (MW). Lithuania’s remote solar park model enables the production and usage of green electricity in different locations. For example, electricity produced in a remote solar park in West Lithuania might be used in South Lithuania or elsewhere in the country.  

“Stability and the ability to adapt to constantly changing market conditions are crucial to achieving green energy and energy independence goals,” said Rokas Bancevičius, CFO of Green Genius. “Therefore, the role of financial institutions is an essential one. That’s why we highly appreciate Luminor’s reliable partnership.”

“Green energy projects are considered a priority, so we actively support companies implementing environmentally significant plans in Lithuania,” added Andrius Načajus, Head of Luminor bank in Lithuania. 

It is already the second loan of this type in 2022, as Luminor and Green Genius signed a 20 million euros value transaction back in February. These funds are used to construct remote solar parks with a capacity of 35 MW in Lithuania.   

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