A Step Towards Green Energy: ILTE to Finance 10 New Solar Parks

Lithuania’s National Development Bank ILTE and international renewable energy company Green Genius have agreed on financing for 10 remote solar parks across Lithuania. The total capacity of the projects will reach 89.67 MW, with loan funding amounting to €48.9 million.

“These projects reflect our consistent commitment to expanding green and energy-independent solutions in Lithuania and across Europe. Construction of the solar plants has already begun, and we expect to complete the works next year. We highly value ILTE’s expertise and smooth cooperation in financing Green Genius projects,” says Rokas Bancevičius, CFO of Green Genius.

This agreement marks the second partnership between the company and ILTE. Earlier this year, a 6.6 MW solar park project valued at €3.9 million was financed. In total, ILTE will finance 11 Green Genius solar parks in Lithuania over the course of 2025.

“Sustainability commitments, an integrated approach to energy generation, and Green Genius’ long-standing experience will not only help strengthen Lithuania’s energy independence but also drive the green transformation across the region. The development of local green energy is gaining even more importance now that Lithuania has disconnected from the BRELL electricity ring—this becomes a key factor in ensuring supply security and resilience to external risks,” says Giedrė Gečiauskienė, Head of Client Financing at ILTE.

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