Renewable energy company Green Genius will install 500MW of solar power plants in Lithuania no later than 2025.
It will also install 200MW of wind farms simultaneously, making a total of 700MW of wind and solar power plants in Lithuania by 2025.
Green Genius chief executive Ruslan Skelpovic said: “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.
“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.
Sklepovic added: “This kind of solution would use land more efficiently and ensure the optimal use of electricity networks, thus addressing country’s grid capacity matter.
“In addition, it will allow us to offer our customers mixed solar-wind electricity at a friendlier price.”