Green Genius, a renewable energy company developing solar energy and biogas projects across Europe, began the construction of its first biogas plant in Poland. The new facility with a total capacity of 1 megawatt (MW) is expected to lay the foundations of further expansion of biogas projects in Poland.
The productivity of the new power plant is estimated at 8,200 megawatt-hours (MWh) per year, saving 87,000 tonnes of CO2 emissions over 15 years. Substrates in the process of energy production will be, among others, beet pulp, distilling dregs, vegetable and fruit residues from juice production and other agricultural by-products.
Construction is scheduled to be completed by March 2022, with energy production starting in the second half of 2022. The value of the entire investment project is 26 million Polish zloties (5,65 million euros). Green Genius has partnered with Bank Pekao to provide financial support for the project.
“We are glad that Bank Pekao supports us in achieving our goals, allowing us to build a green energy future for Poland,” said Rokas Bancevičius, CFO of Green Genius.
“Entering into cooperation with Green Genius, a leading investor in the RES sector is a great honour for our bank,” underlined Mariusz Matejuk, Specialist in SME Project Finance at Bank Pekao. “We are glad that by financing projects like the one in Turowiec, we have an opportunity to influence the transformation of the energy sector towards renewable sources and thus to protect the natural environment.”
As Ruslan Sklepowicz, CEO of Green Genius explained, Poland has significant yet undeveloped potential in this energy sector. According to estimates, the biogas market can accommodate up to 3,800 more similar power plants.
“The Turowiec power plant is our first but certainly not our last biogas project in the country,” underlined Mr Sklepowicz adding that there is a great potential for biogas development as a result of the significant amounts of biodegradable waste that is generated in Poland.
“The best sustainable way to manage them is just to convert them to biogas and organic fertilisers,” explained the CEO of Green Genius highlighting that the plan is to add similar power plants with a total capacity of 20 MW within the next four years to the company’s portfolio. As he said luckily, Poland has a transparent regulation and a favourable support system for the biogas market.
Green Genius already has experience with developing biogas and photovoltaic projects on European markets, primarily in Poland, Lithuania, Spain, Romania and Italy. The total capacity of its completed photovoltaic facilities in Poland will soon reach 200 MW. The company has been in the biogas business for over ten years, and its portfolio to date includes 19 biogas plants (11 in Lithuania, 8 in Belarus) with a total capacity of over 20 MW.