Renewable energy company Green Genius and Citadele Bank in Lithuania have signed a financing agreement worth €6.9m to fund a solar power plant on the roof of a brewery in the country.
The scheme will use an energy-as-a-service solution, enabling it to meet 100% of industrial customers’ electricity needs from renewable sources.
The power plant combines solar PV modules and batteries and will be installed on the roof of the Svyturys-Utenos alus brewery within the Carlsberg Group.
During the first stage, Green Genius will install a 1.5MW solar power plant and a 2MWh capacity accumulator on the roof of the brewery in Utena, North Lithuania.
In the second stage, a 5MW remote solar array and a 4MWh capacity accumulator in Butrimonys, South Lithuania, will be installed.
These sites will satisfy up to 100% of the electricity demand of the brewery with PV-plus-storage.
The project has received €2.6m from the Innovation Fund, financed by revenues from the EU Emissions Trading System and managed by the European Climate, Infrastructure and Environment Executive Agency.
“With the implementation of this project, the one of the first batteries integrated into both industrial enterprises and solar parks will appear in the Baltic States,” said head of innovation at Green Genius Nerijus Virbickas (pictured).
“This will create opportunities to fully employ the market’s potential to trade, provide flexibility and other services to energy system operators,” he added.
Citadele Bank board member and head of corporate banking Vaidas Zagunis added: “We appreciate our partnership with Green Genius and the opportunity to be part of a unique 6.5MW solar energy and 6MWh Battery energy storage system project.
“It will help to significantly reduce CO2 footprint and will drive innovations in Lithuania.
“One of our priorities is the financing of sustainable, long-term value-creating projects. By financing domestic businesses, we encourage investments in renewable energy projects.
“Sustainable economic development and support for innovative technological solutions are part of our business strategy.”