Wind and Hydrogen

Renewable energy has become a main source of electricity. Wind and solar power technologies will shape the future of sustainable energy systems. Green Genius, the leading company in solar power development in Europe, has decided to expand its electricity generation portfolio by adding wind and hydrogen power.

Green Genius develops its wind parks and also acquires pre-developed projects. At present, its most mature project is in the Jurbarkas district of Lithuania. Operations are planned to start in the second quarter of 2024, with an estimated capacity of 85 megawatts (MW).

It is expected that in Lithuania, by 2025, Green Genius’ development pipeline will reach 500 MW, and its co-development in Latvia will reach 300 MW. Green Genius is constantly seeking new markets for wind development possibilities.

Green Genius has an interest in entering the “green hydrogen” market. It will concentrate on green hydrogen production and its transformation into biomethane or bioethanol, exploiting synergies with sustainable supplies of CO2 from biogas plants.

 

News
Green Genius and Respect Energy signs 10 year PPA

Green Genius and Respect Energy have signed a 10-year PPA agreement. As part of it, Green Genius will supply 25 GWh of green energy annually to Respect Energy and its customers, allowing to save the emission of more than 180 000 tonnes CO2 during its tenor. PPA contracts are one of the key elements for decarbonization of EU and enable companies to hedge against unexpected future changes in the price of electricity.  "The PPA agreement with Respect Energy is a significant part of our 4h portfolio in Poland market, therefore, we appreciate this partnership a lot. I believe that developing renewable energy sources is the only way for the trustworthy future energy supply and independence of the European countries, says Povilas-Emilis Čėsna, Head of trading and Origination at Green Genius. Additionally, he points out, that PPA contracts turns out to be a haven for enterprises. For many companies, it is also a key element to implement the ESG strategy, as many of them make a commitment to purchase energy from green sources. “This agreement between Green Genius and Respect Energy is a guarantee for our customers, allowing them to balance its operational activities and secure stability in the future. - states Sebastian Jablonski, Chairman of the Board at Respect Energy. After the invasion into Ukraine and current increasing electricity market prices, renewables play a significant role helping companies to fix their electricity costs from further price increase. The agreement between Green Genius and Respect Energy has been signed for 10 years and will enter into force on January 1, 2024. Respect Energy will receive 25 GWh of green energy annually for its customers. It will come from photovoltaic power plants with a total installed capacity of 21 MW, which are currently being built in Poland as part of the 4th  Green Genius project portfolio.

Green Genius and Respect Energy signs 10 year PPA Green Genius and Respect Energy have signed a 10-year PPA agreement. As part of it, Green Genius will supply 25 GWh of green energy annually to Respect Energy and its customers, allowing to save the emission of more than 180 000 tonnes CO2 during its tenor. PPA contracts are one of the key elements for decarbonization of EU and enable companies to hedge against unexpected future changes in the price of electricity.  "The PPA agreement with Respect Energy is a significant part of our 4h portfolio in Poland market, therefore, we appreciate this partnership a lot. I believe that developing renewable energy sources is the only way for the trustworthy future energy supply and independence of the European countries, says Povilas-Emilis Čėsna, Head of trading and Origination at Green Genius. Additionally, he points out, that PPA contracts turns out to be a haven for enterprises. For many companies, it is also a key element to implement the ESG strategy, as many of them make a commitment to purchase energy from green sources. “This agreement between Green Genius and Respect Energy is a guarantee for our customers, allowing them to balance its operational activities and secure stability in the future. - states Sebastian Jablonski, Chairman of the Board at Respect Energy. After the invasion into Ukraine and current increasing electricity market prices, renewables play a significant role helping companies to fix their electricity costs from further price increase. The agreement between Green Genius and Respect Energy has been signed for 10 years and will enter into force on January 1, 2024. Respect Energy will receive 25 GWh of green energy annually for its customers. It will come from photovoltaic power plants with a total installed capacity of 21 MW, which are currently being built in Poland as part of the 4th  Green Genius project portfolio.
Berenberg Green Energy Junior Debt Fund is to partly finance a 69 MWp solar park portfolio for Green Genius in Poland Vilnius/Hamburg. 20 September 2022. The private bank Berenberg and the international renewable energy company Green Genius begin their cooperation with a solar park portfolio in Poland. The Berenberg Green Energy Junior Debt Funds provides mezzanine financing of €22 m, which, along with other financial resources, is to be used for the construction and operation of 69 MWp. The private bank Berenberg acts as an investment advisor to the fund. The project portfolio with a capacity of 69 MWp consist of individual 1 MWp, 5 MWp or 8 MWp PV plants spread across Poland. The portfolio will operate on a mix of 10-year PPAs, 4-year PPAs and the state-backed 15-year contract-for-difference (“CfD”) support mechanism ensuring stability of electricity pricing for the projects. The portfolio is about to start construction and is expected to be complete in 2023. Total investment into this project will reach up to €59m. The project portfolio will be built with around 106,200 photovoltaic modules, which will produce enough energy to meet the electricity demand of around 24,200 homes. In addition, 49,490 tonnes of CO2 will be saved from emission into the atmosphere. The project helps Poland to become more independent from fossil fuels like coal, which is still the major source of Poland’s electricity generation. “Besides the region's energy independence urgency, sustainability issues have not gone anywhere. Trusted financial partners have always had a major role in making big changes happen. Therefore, we're delighted to start a new partnership with Berenberg in our long and meaningful journey”, –   said Rokas Bancevičius, CFO of Green Genius stated. The 69 MWp solar park portfolio is one of several investments in Poland for the Berenberg funds but the first with the developer Green Genius marking another successful entry into a long-term partnership. Torsten Heidemann, Head of Infrastructure & Energy of Berenberg said, “We are proud to support Green Genius on its strong growth path in Poland and look forward to finance future Green Genius projects across Europe. They have the know-how and resources to become a major player in the European renewable energy market.”
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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