EBRD invests €100 million into Green Genius, becomes minority shareholder

Facebook
Twitter
LinkedIn
Reddit
Email
A Green Genius renewable power project.
Green Genius has a solar power pipeline of around 2.9GW. Image: Green Genius.

The European Bank for Reconstruction and Development (EBRD) has committed €100 million (US$110.2 million) in financing to Lithuanian renewable power developer Green Genius, to expand its work in Europe until 2029.

The EBRD is jointly owned by 73 countries, as well as the EU and European Investment Bank (EIB), and while neither the bank nor Green Genius specified which projects would receive funding in particular, they noted that, as part of the deal, the EBRD will become a minority shareholder in the company.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The deal is the largest single company equity commitment made by the EBRD in the Baltic States, and Green Genius noted that the money would be used to support both the acquisition and development of projects in the region. This year, the company has already started construction at the 121MW Jekabpils solar project in Latvia, the country’s largest stand-alone solar facility, and secured a loan from Citadele Bank to support its solar-plus-storage initiatives in Lithuania.

Since last September, Green Genius has completed a number of financing rounds for projects in Eastern Europe, including a 198.8MW portfolio in the Baltics and a 500MW portfolio in Romania.

“This partnership reflects Green Genius’ long-term strategy to further build its development portfolio and transition into an independent power producer,” said Green Genius CEO Ruslan Sklepovič. “This institutional partner will enable us to invest more actively in new renewable energy projects.”

The EBRD’s latest round of financing will go towards helping Green Genius commission a renewable power pipeline that includes 2.9GW of solar projects. Of this pipeline, 203MW of capacity are currently under construction, in Lithuania and Poland, alongside sizable pipelines of 689MW of capacity in Italy, and 529MW of capacity in Lithuania, which are in the development stage.

Earlier this year, PV Tech Power profiled Europe’s myriad of solar industries, and noted that 2023 saw five countries add 1GW or more new capacity to their national energy mixes; three of those five were in Eastern Europe, with Bulgaria, the Czech Republic and Romania all leading the region in capacity additions.

PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar Central and Eastern Europe in Warsaw, Poland 26-27 November 2024. The event will focus on Eastern Europe with a packed programme of panels, presentations and fireside chats from industry leaders responsible for the build out of solar and storage projects in Poland, Bulgaria, Romania, Greece and Hungary. For more information visit the event website.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

June 9, 2025
Sonnedix has signed a power purchase agreement (PPA) with Renfe to supply 420GWh of renewable energy annually for its commercial operations.
June 6, 2025
Eternal Sun has acquired German solar simulator provider Wavelabs, which has resulted in the formation of a new subsidy, Wavelabs Eternal Sun.
Premium
June 6, 2025
Europe must secure the 'strategic segments' of the solar supply chain, according to experts at a PV Tech panel at this year's Intersolar event.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).
June 5, 2025
US renewable power developer Invenergy has commissioned the 250MW Hardin III Solar Energy Center in the US state of Ohio.
June 4, 2025
Independent power producer (IPP) Enlight Renewable Energy is expanding its Gecama Wind Project in Castilla La Mancha, Spain, by integrating solar PV and battery energy storage systems.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece