Green Genius secures US$75 million for Lithuanian solar-plus-storage portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
A Green Genuis solar project.
Green Genius expects to begin commercial operation at both projects by July 2027. Image: Green Genius.

Lithuanian independent power producer (IPP) Green Genius has secured €64 million (US$75 million) in finance to support the development of a solar-plus-storage portfolio in Lithuania.

The investment will be used to support the development of a 91MW project in Izabelinė, in the Ignalina municipality, to be co-located with an 18MW battery energy storage system (BESS), and a separate 91MW solar project in Lieponys, in the Trakai district. The developer expects to begin construction at both projects this month, and begin commercial operation at both facilities by July 2027.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“By combining large-scale solar generation with battery energy storage, we are introducing a hybrid model that ensures flexibility,” said Green Genius CFO Rokas Bancevičius. “It’s a future-proof system that helps stabilise the grid, balances supply and demand and supports the broader energy transition more smartly and sustainably.”

Integrating storage systems into Lithuania’s changing energy mix could be essential if the country is to meet its renewable energy goals. In preparation for its disconnection from Russia’s energy grid, which took place in February, Lithuania invested in new renewable energy capacity, and research group Ember reports that wind and solar accounted for 65% of the country’s domestic electricity generation in 2024.

Alongside this, the government has sought to expand its storage sector to accommodate a power mix that is increasingly reliant on renewable energy. The government is aiming to install 800MWh of BESS capacity by 2030 in order to reach its 100% renewable energy generation target by the end of the decade.

At least year’s Large Scale Solar Central Eastern Europe event, hosted in Warsaw by Solar Media, industry experts called on countries in eastern Europe to build more “intelligent” energy grids, which take advantage of technologies facilitating flexibility, such as storage.

Green Genius’ latest financing was delivered by the Nordic Investment Bank (US$32.8 million) and NORD/LB (US$42.2 million), with the former’s support delivered through the InvestEU programme, an EU initiative to encourage more than US$436.2 billion in private investment into sectors such as digitisation and renewable energy. Last year, the InvestEU fund was responsible for delivering funds for an 84MW solar-plus-storage portfolio in Latvia.

PV Tech publisher Solar Media will host the fifth edition of Large Scale Solar Central and Eastern Europe in Warsaw, Poland, from 25-26 November 2025. The event will focus on the Eastern Europe solar and storage sectors, with a packed programme of panels from industry leaders, responsible for the build out of solar and storage projects in Poland, Bulgaria, Romania, Hungary and the Baltics. For more information visit the event website.

3 November 2026
Málaga, Spain
Understanding technology and supplier selection for Europe’s utility-scale PV market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of PV module, inverter and battery supplier selection; product availability, technology offerings, supply chain traceability, quality assurance, factory auditing, system reliability, and supplier bankability.
2 February 2027
London, UK
Returning in 2027 for its 14th edition, Solar & Storage Finance Europe will bring together the brightest minds representing funds, banks, developers, utilities, government and industry across Europe and the UK on a programme that is solutions-focused from top to tail. The event is designed to enable leaders at the forefront of solar and storage investment and deployment in Europe to scale, learn and land themselves industry defining partnerships.

Read Next

August 21, 2026
Australia has extended a CGT concession for foreign investors in wind, solar and BESS by a further decade, pushing the deadline to June 2040.
August 20, 2026
The average selling price of full black, back contact and monofacial TOPCon modules in Europe has continued to increase.
August 19, 2026
Dimension Energy has secured US$857 million in additional capital to expand its distributed solar platform across 29 projects in the US.
August 19, 2026
Germany’s federal network agency (Bundesnetzagentur) has allocated 2,135MW of PV in the country’s latest ground-mounted solar auction.
August 18, 2026
Risen Energy has signed an MoU with Ascania Energy to deploy 100MW of solar PV capacity and 200MWh of utility-scale batteries in Ukraine.
August 18, 2026
Tax credit transfer value in the US rose between the second half of 2025 and the first half of 2026, according to Crux.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
February 2, 2027
London, UK
Solar Media Events
April 20, 2027
Istanbul, Türkiye