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Green Genius to invest 450 million euros in solar PV capacity in Romania

One of the leading European renewable energy developers, Green Genius is planning to build over 500 megawatts (MW) solar PV capacity in Romania by 2025 to generate green and clean energy in the country. According to the company’s representatives, they aim to invest about 450 million euros in this project, helping reduce the cost of electricity in Romania. 

According to the National Integrated Plan for Energy and Climate Change 2021–2030, Romania has set the target that 30.7 per cent of its total energy mix will be from renewable energy sources by 2030. However, to reach this target, the Romanian energy production system needs massive investment in the coming years.

“We see a rapidly growing demand for renewable energy throughout Europe,” commented Ruslan Sklepovič, CEO of Green Genius. “The ambitious goals of the European Union in pursuit of the climate-neutral model encourages countries to increasingly focus on renewable energy development. With its energy sectors currently in a rapid growth phase, Romania has promising potential for the development of solar projects. Geographically, Romania has numerous advantages when it comes to solar energy investments, and we are prepared to invest here in the coming years.”

Currently, the total pipeline of Green Genius Solar PV projects that are under development, construction and already implemented exceeds 1.5 gigawatts (GW) in different markets. Last year saw the company build the most modern, efficient and largest solar power plant in the Baltics yet. Moreover, in 2021, Green Genius generated 399 gigawatt-hours (GWh) of green energy and saved around 335,000 tonnes of CO2, equivalent to planting over 16 million trees.

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