Ecology, Energy, Energy Market, EU – Baltic States, Good for Business, Investments, Lithuania

International Internet Magazine. Baltic States news & analytics Thursday, 09.04.2020, 20:38

Lithuania's Green Genius expands to Hungary, Romania

BC, Vilnius, 27.02.2020.Print version
Green Genius, a renewable energy company which is part of the Modus Group owned by Lithuanian businessman Kestutis Martinkenas, is launching operations in Hungary and Romania and plans to invest over 300 mln euros into solar energy projects in these countries.

The total capacity of the projects the company plans to implement in the new markets will exceed 450MW, with the first projects set to be implemented next year, the company said.

"Hungary and Romania are two attractive markets for solar projects. The solar energy sectors there are in the phase of rapid growth, with over 1GW of solar power plants have already been installed in the two countries. Geographically, both countries are suitable for such projects, therefore, we decided to launch operations there," Ruslanas Sklepovic, CEO of Green Genius, said in a statement.

Upon entry to the new markets, the company will expand its geography to eight countries. Green Genius is now developing renewable (solar and biogas) projects in Lithuania, Poland, Belarus, Ukraine, Italy and Spain.

Up until now, the total capacity of Green Genius' projects exceeded 100MW. The company plans to increase it to 1.5GW by 2025.

The international Modus Group mainly focuses on renewable energy (Green Genius), mobility services (CityBee), smart parking solutions (Parkdema) and auto business.

Search site