My blog post 9

The renewable energy company “Green Genius” and the “Luminor” bank in Lithuania agreed on enlarging the limit of green guarantees to 12m EUR. It is already the third agreement between the two partners on green guarantees. 

“The green guarantees provided by the bank to the green energy developer create opportunities for faster and more stable development of green energy projects. These projects will increase the generation of green and independent energy and the region’s energy security. We highly value this reliable partnership with Luminor and the mutually created value-based cooperation,” says Rokas Bancevicius, CFO of Green Genius.

Green guarantees differ from other guarantees as their purpose is clearly defined – they are used only for green projects. Guarantees usually become an essential incentive for green projects in their early stages.

“Three main goals of Luminor Bank are promoting sustainable economic growth, mitigating climate change, and building strong institutions. By financing the development of green energy, we contribute to promoting a sustainable economy. This is the ambition of Luminor Bank today, and it’s great that we can do it in cooperation with our long-standing partners,” says Andrius Načajus, head of Luminor Lithuania.

The first green guarantee agreement between “Green Genius” and Luminor Lithuania was signed a year and a half ago, i.e., in the spring of 2021.

Similar texts

Green Genius secures €87 million financing and starts construction of the biggest stand-alone solar park in Latvia

Renewable energy company Green Genius, operating in 8 European markets, signed two deals with financial institutions of German origin to finance the construction of biggest-in-Latvia and second biggest stand-alone solar park in in the Baltic countries. The Berenberg Bank loan is €26 m euros, while Nord LB, the biggest bank in Northern Germany, lends €61 ...

Green Genius is to upgrade the largest Baltic biogas portfolio to biomethane

Green Genius, a renewable energy company operating in eight European markets, is upgrading its biogas plant portfolio in Lithuania to biomethane production. It is the largest biogas portfolio in the Baltics, and Green Genius will invest €35 million to modernize it. Swedbank Lithuania partly finances the project, and the Ministry of the Environment of the Republic ...