Green Genius and Mundus Bridge Finance, the private debt fund of INVL, have agreed on €9.5m financing for the developer’s 500MW Romanian project pipeline.
“Romania is an important market for Green Genius and for European green transition,” said Green Genius chief financial officer Rokas Bancevicius.
“We aim to develop and construct 500MW of renewable energy projects in the coming years in that market.”
Green Genius entered the Romanian market in 2020, later setting up an office in Bucharest. The company is engaged in green field solar and wind project development in the country and sometimes considers projects for acquisition at an early development stage as well.
Romania’s geographic location is particularly favourable for solar PV due to its high number of sunny days said the developer. In addition, the regulatory environment in the country has recently improved it added. As a result, its renewable energy projects are gaining increasing attention from international investors.
“Our team has extensive experience in assessing the risk of such projects, as financing renewable energy projects forms part of the fund’s portfolio,” said Viktorija Vaitkeviciene, head of Mundus, the asset management company that manages the private debt fund Mundus Bridge Finance.