Modus Group expands its business operations in Poland: EUR 25 million will be invested in biogas projects in 2020
Modus Group is expanding the geography of biogas activities and are starting operations in Poland. The plans for 2020 are to develop 5 biogas plants with a total capacity of 5 megawatts (MW). Over EUR 25 million will be invested in these projects, and the plants are scheduled to start operations in 2021.
The new projects in Poland will be implemented under the brand of Green Genius which has already established itself in this market as the developer of solar projects.
“Poland is a well-known market for us as we have accumulated extensive experience in the solar energy projects. In our opinion, Polish biogas sector is very attractive as there are not many strong players operating in this sector, whereas the growth potential is high. Therefore, we have decided to use the experience gained in other countries for the development of biogas projects in Poland,” says Ruslan Sklepovič, the Board Member of Modus Group responsible for the area of renewable energy.
According to him, these biogas projects in Poland will contribute to the implementation of the principles of circular economy and the environmental objectives established by the European Union. Green electricty produced in the biogas plants will be transmitted to the power grids. Based on company’s estimations, when the biogas plants start to operate, they will allow to reduce CO2 emissions by more than 58,000 tonnes per year.
It is foreseen to further expand the number of projects in Poland. In 2021, the company plans to start a new 10 MW biogas plants development phase.
The companies managed by Modus Group currently operate a total of 16 biogas plants: 11 in Lithuania and 5 in Belarus, with a total capacity of 15 MW. At the beginning of March 2019, Modus Group secured financing from the European Bank for Reconstruction and Development (EBRD) for an amount of almost EUR 10 million for the development of 3 biogas plants in Belarus. Upon the implementation of these projects, the total capacity of the projects developed in the country will make up 10 MW. These projects will be implemented by the end of this year.
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