European Bank for Reconstruction and Development finances Green Genius
The EU is actively promoting the Climate Change Programme, with a particular focus on renewable energy development. To this end, the government has launched a number of initiatives and is supporting project development in this area. One of these is Green Genius, in which the European Bank for Reconstruction and Development has invested.
EBRD has invested €100 million to expand the company’s capacity by becoming a minority shareholder. Green Genius will use the funds to develop its projects in Europe. The company intends to increase its generation capacity to 2GW and beyond. According to Green Genius, the expansion of production will help accelerate the EU’s transition to green energy. In addition, the investment in the company will support the European renewable energy sector as a whole. The initiative is critical to the region’s sustainability and energy security.
The EBRD’s investment in Green Genius is significant for the sector:
– the funding will support the company for 10 years;
– the bank will help the company scale up its clean energy production;
– this is the first external equity financing for Green Genius.
The European Bank’s support for Green Genius shows its interest in the development of renewable energy. This successful example of cooperation can serve as an incentive for other companies wishing to obtain financial support for sustainable energy projects.
About the company
Green Genius is one of the fastest-growing renewable energy companies in Lithuania. In recent years, the company has significantly expanded its portfolio of alternative energy projects. Its activities cover not only Lithuania but also other EU countries, including Spain, Italy, Poland, and Latvia.
The manufacturer is not only focusing on expanding renewable energy sources. It is also actively working on improving ESG standards within the company and optimising supply chains. In addition, Green Genius is implementing a gender diversity programme that is broadening opportunities for the entire Lithuanian energy sector.
According to Grzegorz Zielinski of the EBRD, support for renewable energy is a priority area. The Bank is paying particular attention to the sector’s development in the Baltic States. For this region, the expansion of renewable energy facilities is a sign of increased energy security. The investment in Green Genius is evidence of the Bank’s active efforts to strengthen the sector in Lithuania and neighbouring countries.
With the Bank’s support, the company will be able to implement new projects and expand its presence in the European market. Green Genius has all the necessary qualities to become a leading developer of renewable energy projects in the region. And the EBRD’s support will enable it to realise its full potential.
