Green Genius and Sequoia Investment Management Company Limited (Sequoia), acting as an investment advisor on behalf of Sequoia Economic Infrastructure Income Fund Limited, are to finance the construction of 66MW solar PV plants in Poland.
Both parties came up to an agreement of PLN175 m (€38.5m) to fund the projects.
Green Genius chief financial officer Rokas Bancevicius said: “We are delighted to sign our first financing transaction with Sequoia.
“The combination of Green Genius track record and Sequoia funding will increase green and independent energy generation in the region.”
Sequoia partner Dolf Kohnhorst said: “We are very pleased to close our first financing transaction with Green Genius on the construction of 66MW of solar energy in Poland.
“The closing of this transaction extends our investments in the renewable sector and also expands our geography at an important time.”
Green Genius, a renewable energy developer operating in 8 European countries plans to complete the construction of 66MW plants in Poland in early 2023.
It is the first debt funding between Sequoia Economic Infrastructure Income Fund, listed on the London Stock Exchange, and Green Genius.
Since 2019, Green Genius has already developed three solar PV projects in Poland of a total accumulated capacity 128.1MW.