Renewable energy company Green Genius and RGREEN INVEST, an investment company based in France, arranged a financial agreement to build eight solar PV projects in Lithuania, amounting to a total capacity of 65.7 megawatts (MW).
“The green transition requires capital providers with financial and specific technical competence in the renewable energy field,” said Rokas Bancevičius, CFO at Green Genius. “That is what makes our partners so appreciated. The funding empowers us to deliver additional green and independent generation capacity to Lithuania.”
“Faced with the imperative to sever European dependence on energy imports, it is crucial to remain operational by finding substitutes to our carbon-intensive electricity mix,” added Nicolas Rochon, RGREEN INVEST’s CEO. “Boasting increasingly shorter development durations and cost efficiency, renewables enable us to decarbonise our interconnected European grid and increase our entire continent’s energetic independence.”
The solar power plants in Lithuania are scheduled to be built by 2024. They are projected to generate an estimated 82,400 megawatt-hours (MWh) of green energy per year, and save over 34,600 tons of CO2, according to Green Genius’ calculation methodology.