Green Genius, a Lithuanian renewables developer, has finalized EUR 87 million (USD 93.5 million) in debt financing to commence construction on Latvia's largest standalone photovoltaic (PV) complex.
The project, located in Jekabpils, Central East Latvia, will encompass a 121-MW solar park spanning more than 151 hectares (373.1 acres).
The funding comprises EUR 26 million from Germany's Berenberg Bank and EUR 61 million from Nord LB, facilitating an ambitious timeline for completion by mid-2025. Once operational, the solar park is projected to mitigate approximately 121,000 tonnes of carbon dioxide (CO2) emissions annually.
Green Genius, a subsidiary of Modus Group, currently manages a diverse portfolio exceeding 2.6 GW of renewable energy projects across eight European countries, highlighting its commitment to expanding sustainable energy infrastructure in the region.
