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.
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