The Lithuanian photovoltaic park developer Green Genius, a member of the Modus group, intends to build in Romania, by 2025, photovoltaic solar power plants with a total installed capacity of over 500 MW. According to Green Genius representatives, the company intends to invest approximately 450 million euros in this project.

For now, the Lithuanian company’s website shows that in the last 5 years the company has invested 445 million euros and is developing a portfolio of 1.5 GW. The company, founded 10 years ago, has implemented projects in 5 countries, with an installed capacity of almost 200 MW. Green Genius is also working on advanced projects in Italy, Spain, Poland and Lithuania – a total portfolio of over 1 GW.

Romania is one of the main areas of interest for the company, since 2020. For now, the official website confirms only 100 MW in the early development stage for Romania.

In October 2021, Green Genius announced that it had signed a 20 million euros financing with Eiffel Investment Group’s funds. The company plans to use these funds to finalize the development of solar PV projects in Italy and Spain.

“Geographically, Romania has many advantages in terms of investments in solar energy, and we are ready to invest here in the coming years,” says Ruslan Sklepovic, CEO of Green Genius.

According to the Integrated National Plan for Energy and Climate Change 2021-2030, Romania is committed to reaching by 2030 the global share of energy from renewable sources of 30.7%. Under these conditions, Romania needs massive investments in the coming years in the production of renewable energy and the contribution of experts in the field to contribute to the transition to clean energy.