Green Genius, a subsidiary of Modus Group, is set to receive an equity investment of up to €100 million from the European Bank for Reconstruction and Development (EBRD). This investment will finance Green Genius' expansion initiatives through 2029 across various European countries and represents the largest single company equity commitment by the EBRD in the Baltic States.
The funds will be allocated to the development and acquisition of renewable energy projects in the Baltics, Poland, Romania, and other European markets. The transaction, still pending approval from competition authorities in several countries, will see the EBRD become a minority shareholder of Green Genius.
This €100 million investment aligns with Green Genius' European growth strategy, which aims to develop over 2 GW of renewable energy capacity. Ruslan Sklepovic, chief executive of Green Genius, expressed enthusiasm about the partnership, stating, “We are delighted to form a partnership with EBRD. This partnership reflects Green Genius' long-term strategy to further build our development portfolio and transition into an independent power producer. This institutional partner will enable us to invest more actively in new renewable energy projects.”
Grzegorz Zielinski, EBRD's head of energy for Europe, emphasized the importance of promoting renewable energy as a central objective of the EBRD, stating, “Enhancing energy security remains a key priority for the Baltic States. There is no better way to achieve these goals than by partnering with an existing client from our countries of operations, with whom we have successfully delivered numerous projects over the past decade. We are very pleased to have the opportunity to become a shareholder in Green Genius and are eager to support their green ambitions and expansion plans across Europe.”
