Green Genius, a renewable energy company, entered into financing agreements for up to €64 million (~$75 million) with the Nordic Investment Bank (NIB) and NORD/LB. The funding will be used for the development of two solar projects totaling 182 MWp in Lithuania.
Both solar projects have a capacity of 91 MWp, located in Izabelinė, Ignalina municipality, and Lieponys, Trakai district. Additionally, there is a plan to add 18 MW of battery energy storage system at the Izabelinė project site.
NIB provided €28 million (~$32.7 million), and NORD/LB provided €36 million (~$42 million). NIB’s financing is supported under the InvestEU program.
The construction of solar projects is expected to begin in August, with commercial operations expected by July 2027.
Once operational, the projects are estimated to produce approximately 100 GWh of renewable-based electricity per year.
Rokas Bancevičius, CFO of Green Genius, said, “This partnership enables us to implement one of the most technologically advanced renewable energy solutions in the region. By combining large-scale solar generation with battery energy storage, we are introducing a hybrid model that ensures flexibility. It’s a future-proof system that helps stabilize the grid, balances supply and demand, and supports the broader energy transition more smartly and sustainably.”
Niels Jakeman, Head of Energy Origination Europe at NORD/LB, said, “We’re thrilled to continue our partnership with Green Genius by financing its latest solar projects in Lithuania. The sites will play an essential role in boosting the country’s PV capacity and driving forward its renewable energy transition.”
In July, Green Genius signed a €36.66 million (~$42.94 million) financing agreement with RGREEN INVEST, a French independent investment management company. The financing will be used for the construction of the 78 MW Šeduva solar project in Lithuania.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, large-scale project funding increased by 65% in the first half of 2025 compared to the same period in 2024.
