Luminor and Green Genius sign €10.3 m deal 

Renewable energy company Green Genius signs 10.3 m deal with Luminor Bank in Lithuania. The loan is to be used to construct remote solar parks in Lithuania. 

The total capacity of remote solar parks will be 15.7 MW. Lithuania’s remote solar park model enables the production and usage of green electricity in different locations. For example, electricity produced in a remote solar park in West Lithuania might be used in South Lithuania or elsewhere in the country.  

“Stability and the ability to adapt to constantly changing market conditions are crucial to achieving green energy and energy independence goals. Therefore, the role of financial institutions is an essential one. That’s why we highly appreciate Luminor’s reliable partnership,” says Rokas Bancevičius, CFO of Green Genius. 

“Green energy projects are considered a priority, so we actively support companies implementing environmentally significant plans in Lithuania,” says Andrius Načajus, Head of Luminor bank in Lithuania. 

It is already the second loan of this type in 2022, as Luminor and Green Genius signed a €20 m value transaction back in February. These funds are used to construct remote solar parks with a capacity of 35 MW in Lithuania.  

Similar texts

The partnership between Green Genius and Swedbank for the largest biogas production project in the Baltic region 

The renewable energy company Green Genius has strategically decided to start biogas production. Biogas plays a critical role in decarbonizing the transportation sector, serves as an excellent example of a circular economy, and is a useful and efficient method of waste recycling. The company is carrying out the largest project in the Baltic region in ...

Green Fuel Trials Around the Baltic Sea – Hope for the Region’s Ecological Leap

Transport sector pollution accounts for 25% of EU CO2 emissions, making it clear that without transforming this sector, a sustainable future will remain obscured by dense emissions. Alongside heavy ground transport, aircraft play a significant role. In this regard, countries around the Baltic Sea are showing ambition – will these efforts lay the foundation for ...