Green Genius will receive up to €64 million in financing from the Nordic Investment Bank (NIB) and Germany’s NORD/LB to develop two utility-scale solar farms in Lithuania, the company said on Tuesday.
The projects, located in Izabelinė and Lieponys, will have a combined capacity of 91 megawatt-peak (MWp) and include an 18MW battery storage system at the Izabelinė site. The hybrid setup is intended to improve grid integration and support more stable electricity supply.
NIB is providing a €28 million loan under the EU’s InvestEU programme, while NORD/LB is contributing €36 million. The funding will cover construction and development costs, with work scheduled to begin in August 2025. Commercial operations are expected to start by July 2027.
“The partnership enables us to implement one of the most technologically advanced renewable energy solutions in the region,” said Rokas Bancevičius, CFO of Green Genius. “It’s a future-proof system that helps stabilise the grid, balances supply and demand, and supports the broader energy transition more smartly and sustainably.”
Once operational, the solar farms are expected to generate around 100 gigawatt-hours (GWh) of electricity annually—equivalent to the consumption of thousands of homes—and reduce carbon dioxide emissions by approximately 67,000 tonnes per year.
“In recent years, Lithuania has rapidly expanded its renewable energy capacity, and we are proud to be part of this journey,” said Martin Lundström, associate director at NIB.
Niels Jakeman, head of energy origination Europe at NORD/LB, added: “The sites will play an essential role in boosting the country’s PV capacity and driving forward its renewable energy transition.”
Green Genius, part of Modus Group, currently manages a 2.7 gigawatt (GW) renewable energy portfolio across seven European markets.
