Green Genius confirm €179 million investments in solar power plants in the Baltic States
The renewable energy company Green Genius, operating in 8 European countries, has obtained permits to build solar power plants in Lithuania and Latvia. The company will install a 78 MW solar power plant near Seduva, Central-North of Lithuania. Meanwhile, in Latvia, the construction will amount to 120.8 MW of solar.
The construction of both power plants is planned to start by mid-2024. The solar power plant in Seduva, Lithuania, will spread over 140 hectares. Green Genius will invest €70 million in its construction.
In Central-South Latvia, near the city of Jekabpils, the planned solar park will occupy an area of 153 hectares. For its installation, Green Genius intends to invest €109 million.
“The markets in the Baltic countries have reached a certain new stage of maturity when new opportunities to develop large-scale projects arise alongside the development of usual smaller-scale solar parks. Each of the large-scale projects will be of great importance in decentralizing the energy sources and strengthening the energy independence of the entire region,” – says Simonas Sileikis, Head of Solar Business at Green Genius. He adds: “So far, Green Genius has been developing large-scale projects only in Western European countries, mainly Spain and Italy. The opportunity to apply this experience and knowledge to the Baltic region seems extremely meaningful to me.”
Both solar power plants in Lithuania and Latvia are planned to start operating in 2025. They will supply green electricity to the B2B sector. These two solar plants will produce 245 GWh of electricity yearly, which would be enough for almost 82,000 households. Each year, they will also save close to 102,000 t of CO2 – the amount processed by nearly 5 million trees yearly.
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