Green Genius has signed an agreement to purchase the rights to an 85MW wind farm project in Lithuania.
This project will account for around 13% of Lithuania’s current wind power portfolio, Green Genius said.
The project will be implemented without state subsidies, and the company will directly invest over €100m in this project.
Businesses operating in Lithuania will purchase green energy from the new wind power plant, saving them over 130 thousand tonnes of CO2 emissions.
At the time of agreeing, the project had already received the necessary permits, and the design work for the power plant is currently underway.
The manufacturer of the main equipment will be selected in the first half of this year, and 15 wind turbines will be installed in several stages by the summer of 2024.
The capacity of one power plant will be over 5MW.
In addition, agricultural activities around will continue around the wind farm.
The company is striving to ensure that the wind farm will be state-of-the-art and extremely quiet and that its colours will reproduce the natural background and blend in with the natural landscape as much as possible.
Green Genius chief executive Ruslan Sklepovič said: “While we have been operating for more than 10 years, these are our first essential steps in the wind energy sector.
“We care about a clean future, so we plan to offer attractive products to our consumers by combining renewable energy sources.
“We are also happy to be making a significant investment in Lithuania.
“Green Genius aims to help consumers eliminate polluting technologies by offering 100% renewable energy of different sustainable technologies combined.”
Lithuania is committed that by 2050, more than half of country’s energy needs will be generated by wind farms built onshore and offshore.
Green Genius wind and green hydrogen business manager Darius Biekša said: “To achieve Lithuania’s energy independence and stability of electricity prices, it is necessary to develop renewable energy rapidly.
“Both wind and sun, and hydrogen in the future, are the areas we need to focus on.
“It is gratifying that the first steps of Green Genius in wind energy are being taken in Lithuania.”
This wind project will contribute to the company’s portfolio of projects currently under development, consisting of 1.5GW of solar, biogas and wind capacity to be installed by 2025, considering its expansion in all markets.
Green Genius is planning further developments in wind energy, and in addition to the already planned 85MW, there will be another 75MW capacity created by 2024.
Biekša is also considering expanding opportunities in the Latvian and Polish markets.
In 2024, the company intends to launch a pilot project for green hydrogen, and it has plans for pilot storage solutions.