Green Genius to invest 750 m euros in Lithuania’s solar and wind power plants
Renewable energy company Green Genius will install 500 MW of solar power plants in Lithuania no later than 2025. It will also install 200 MW of wind farms simultaneously, making a total of 700 MW of wind and solar power plants in Lithuania by 2025.
“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,- says Ruslan Skelpovic, CEO of Green Genius. – 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. “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,”- R. Sklepovic points out.
500 MW of solar and 200 MW of wind power plants will produce about 10% of Lithuania’s electricity needs. It will help prevent ~556,000 tons of CO2 emissions in a single year. This amount of CO2 could be absorbed by 26.5 million young trees. Until 2025 Green Genius intends to invest about 750 m euros in Lithuania’s solar and wind power plants.