Green Genius, a key player in the renewable energy sector, has inked a significant financing deal with Mundus Bridge Finance, the private debt fund managed by INVL, amounting to €9.5 million. The funding is earmarked for Green Genius's extensive 500MW project pipeline in Romania.
Romania, a pivotal market for Green Genius, represents a vital piece of the puzzle in the broader European green transition, as emphasized by the company's Chief Financial Officer, Rokas Bancevicius. He stated, “We aim to develop and construct 500MW of renewable energy projects in the coming years in that market.”
Green Genius made its foray into the Romanian market in 2020, subsequently establishing an office in Bucharest. The company is actively engaged in the development of greenfield solar and wind projects in the country, occasionally exploring opportunities for project acquisitions at early development stages.
Romania's strategic geographical location, characterized by an abundance of sunny days, presents an ideal landscape for solar photovoltaic projects. Furthermore, the regulatory framework in the country has recently undergone improvements, making it increasingly attractive to international investors eyeing renewable energy ventures.
Viktorija Vaitkeviciene, Head of Mundus, the asset management company overseeing the private debt fund Mundus Bridge Finance, noted, “Our team has extensive experience in assessing the risk of such projects, as financing renewable energy projects forms part of the fund's portfolio.” This collaboration underscores the growing interest and support for sustainable energy initiatives in Romania and beyond.
