Green Genius Invests €35m to Upgrade Largest Biogas Portfolio in the Baltics for Biomethane Production

, a developer, is embarking on a significant transformation of its biogas portfolio in , aiming to transition towards production. With an investment of €35 million, the company plans to modernize its existing , making it the largest biogas-to-biomethane conversion project in the Baltics.

The project, partially financed by Swedbank Lithuania and supported by the country's Ministry of the Environment with €8.5 million, marks a significant milestone in Lithuania's commitment to sustainable and renewable energy sources.

Green Genius CEO Ruslanas Sklepovicius emphasized the importance of this initiative, stating, “This transformation, adapting biogas plants to biomethane production, is a giant leap towards Lithuania's commitment to sustainable and renewable energy sources.”

The upgraded biogas power plant portfolio consists of 11 sites, with nine deemed suitable for biomethane production. Green Genius plans to equip seven of these sites with biomethane production facilities and construct a new plant dedicated to biomethane production. Additionally, two biomethane injection points will be installed, further enhancing the country's energy infrastructure.

Ignas Maceika, a member of Swedbank Lithuania's board, highlighted the project's significance in reducing emissions and promoting a climate-neutral economy. He stated, “This is the largest biogas plant conversion project in the Baltics and will significantly contribute to the country's emission reduction targets.”

The shift towards biomethane production not only aligns with Lithuania's decarbonization goals but also enhances the country's role in the region's energy landscape. It provides a greener alternative to imported gas and strengthens the potential for a more sustainable transport sector.

Green Genius aims to commence work on the transformation of its biogas-to-biomethane portfolio in 2024, with completion scheduled for 2026. The project represents a significant step forward in Lithuania's journey towards a more sustainable and environmentally friendly energy future.

Subscribe

Related Articles

Popular Categories