Green Genius to build 500 MW of renewable systems

Alina Oprea
Green Genius, a renewable energy company operating in eight European markets, wants to build 500 MW of renewable energy systems in the coming years in Romania. The investment is carried out with Mundus Bridge Finance, the private debt fund INVL, the leading life insurance group, and the leading asset management company in the Baltic States. The parties concluded a financing agreement of €9.5 million.

"For us, Romania is a market that can play a significant role in the entire European ecological transition. We are therefore focused on developing and building 500 MW of renewable energy systems here in the coming years," said Simonas Sileikis, Head of Solar Business, at Green Genius.

Green Genius entered the Romanian market in 2020, opening an office in Bucharest. The company is involved in the development of "green field" wind and photovoltaic projects in Romania and sometimes considers the acquisition of projects in the early stages of development.

The geographical location of Romania is particularly favorable for solar energy due to the large number of sunny days. In addition, the legislative environment in the country has improved considerably, which has attracted the attention of foreign investors, the company says.

"Our team has extensive experience in assessing the risks of such projects, as the financing of renewable energy projects is part of the fund's portfolio", reports Viktorija Vaitkeviciene, director of Mundus, the asset management company that manages the private debt fund Mundus Bridge Finance.

Green Genius is a renewable energy company that develops, builds, and operates a range of solar, wind, biogas, and hydrogen projects. The company currently owns a substantial portfolio of over 2 GW of assets in various stages of development across 8 European countries.

Green Genius has accumulated over 15 years of experience. Annually, the company generates approximately 315 GWh of green energy, saving more than 210,000 tons of CO2. This is roughly the amount that 10 million trees absorb in a year. Green Genius is part of the international group of companies Modus Group, present in 11 European markets.

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Green Forum  |  17 May, 2024 at 9:00 AM