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Green Genius to invest 750 million euros in Lithuania’s solar and wind power plants

Lithuanian renewable energy company Green Genius is planning to install 500 megawatts (MW) of solar plants by 2025. The company will also install 250 MW of wind farms simultaneously, making a total of 700 MW of electricity out of the wind and solar power plants in the country.

“The European Commission has urgently issued a communication to all members of the EU promoting the development of renewable energy as a matter of particular public interest. And we take our role in this process seriously and responsibly,” said Ruslan Skelpovic, CEO of Green Genius. “Until now, renewable energy has largely addressed the issue of sustainability. However, today it also addresses the challenges of energy independence and socio-economic well-being.”

The company’s solar and wind power plants are being developed in the whole territory of Lithuania. Their operational start is planned for the end of 2024. The company aims to develop a combined solar-wind power plant model too.

“This kind of solution would use land more efficiently and ensure the optimal use of electricity networks, thus addressing the country’s grid capacity matter. In addition, it will allow us to offer our customers mixed solar-wind electricity at a friendlier price,” Mr Sklepovic pointed out.

Overall, the solar and wind power plants will produce about 10 per cent of Lithuania’s electricity needs. It will help prevent circa 556,000 tons of CO2 emissions in a single year. By comparison, this amount of CO2 is the same that could be absorbed by 26.5 million young trees. By 2025, Green Genius intends to invest about 750 million euros in Lithuania’s solar and wind power plants.

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