Green Genius Powers Nala Renewables’ Expansion into the Baltics

Renewable energy company Green Genius, operating in eight European markets, announces its partnership with Nala Renewables (Nala), a global power and renewable energy investment and development platform, by entering into an agreement to sell a 34 MW solar photovoltaic (PV) portfolio in Lithuania.  

Green Genius, recognized for its green energy solutions across Europe, has developed and built an operational solar PV portfolio in Lithuania that Nala Renewables will now acquire.  

In addition to the initial 34MWp, Nala has signed an agreement with Green Genius to acquire a further 45MWp of PV projects in the near-term that are expected to increase the total size of the portfolio in Lithuania to 79MWp. 

The full portfolio will generate approximately 96,000 MW hours of clean energy annually, catering to the energy needs of around 9,500 households and reducing approximately 20,000 tonnes of CO2 equivalent emissions each year*. Offtake agreements ensure revenue security over the medium term.  

We’re delighted to have expanded into Lithuania via the acquisition of this operational PV portfolio from Green Genius, a well-established counterparty for Nala,” said Will Herlinger, Director at Nala Renewables. “We see the Baltics as a key strategic region for our business and plan to continue to grow our presence there. 

We are excited that Nala Renewables has chosen projects developed and built by Green Genius as their entry point to Lithuania. This is acknowledgment of the quality of renewable energy projects that the Green Genius team delivers. We would like to thank Nala’s team for their trust and professionalism,” said Rokas Bancevičius, CFO of Green Genius. 

This transaction with Nala Renewables marks an exciting milestone not only for Green Genius but also for Lithuania and the Baltics region. We are delighted to be able to contribute to the growing Baltics’ renewable sector by delivering additional PV capacity and attracting a new institutional investor,” said Tadas Balsys, Head of M&A at Green Genius. 

* Calculated using UNFCCC IFI Default Grid Factors. 

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