From Green Genius
Green Genius, a leading renewable energy developer and independent power producer owned by Modus Group, is to receive an equity investment of up to EUR 100 million from the European Bank for Reconstruction and Development (EBRD). This investment will fund Green Genius’ expansion plans through 2029 in various European countries. Upon completion of the deal, which is still subject to approval by competition authorities in several countries, the EBRD will become a minority shareholder of Green Genius.
The €100 million EBRD investment will support Green Genius’ European growth strategy that includes the development of over 2 gigawatts of renewable energy, accelerating Europe’s clean energy transition and enhancing the region’s energy independence and security. “We are delighted to form a partnership with EBRD. This partnership reflects Green Genius' long-term strategy to further built development portfolio and transition into an independent power producer. This institutional partner will enable us to invest more actively in new renewable energy projects,” – said Ruslan Sklepovič, CEO of Green Genius.
Grzegorz Zielinski, the EBRD’s Head of Energy Europe, said: “Promoting renewable energy is central to EBRD objectives, and 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.”
This investment marks the largest single company equity commitment by EBRD of its kind in the Baltic States. The funds will be directed toward developing and acquiring renewable energy projects in the Baltics, Poland, Romania, and the other European markets.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 36 economies across three continents. The Bank is owned by 73 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well governed, green, resilient, and integrated.
“Partnering with the EBRD not only supports the company’s climate action initiatives but also strengthens Green Genius’ governance, ESG and supply chain management policies,” – added Rokas Bancevičius, CFO of Green Genius.
Tomas Kairys, the EBRD’s Head of the Baltic States, commented: “This is a landmark transaction for the EBRD in the Baltic States, exemplifying EBRD`s commitment to long-term partnerships and continued support for the region. With Green Genius transitioning from a developer to an independent power producer, this investment will accelerate their expansion into EU markets, including the Baltic States, Poland, and Romania. This project embodies the values the Bank prioritizes, offering a strong governance framework and ambitious ESG standards that could serve as a role model for both existing and future clients. Partnering again with Green Genius demonstrates our dedication to fostering successful, enduring relationships in the Baltic region.”
Green Genius has a diverse portfolio in renewable energy, spanning solar, battery, wind, and biomethane solutions. The company has developed 2.7 GW of renewable energy projects across multiple European markets and has completed 549 MW of projects to date. With a strong track record and a bold vision for the future, Green Genius is set to further expand its footprint in the renewable energy landscape.
More information:
Vaida Mocevičienė
Head of Marketing and Communications, Green Genius
+37063433139
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