Green Genius and RGreen Invest have arranged a financial agreement to build eight solar PV projects in Lithuania with a total capacity of 65.7MW.
The solar farms are scheduled to be built by 2024 and are projected to generate an estimated 82,400 MWh of green energy per year.
The partners aim to sell the electricity to the B2B sector.
“The green transition requires capital providers with financial and specific technical competence in the renewable energy field. That is what makes our partners so appreciated. The funding empowers us to deliver additional green and independent generation capacity to Lithuania,” said Rokas Bancevicius, CFO at Green Genius.
“Faced with the imperative to sever European dependence on energy imports, it is crucial to remain operational by finding substitutes to our carbon-intensive electricity mix,” added Nicolas Rochon, RGreen Invest’s CEO.
“Boasting increasingly shorter development durations and cost efficiency, renewables enable us to decarbonise our interconnected European grid and increase our entire continent’s energetic independence.”