Green Genius to invest €179 million into 198.8MW Baltic solar portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
Green Genius has a total capacity of 503MW of solar power in its Lithuanian pipeline. Image: Green Genius

Lithuanian energy supplier Green Genius has obtained permits to invest €179 million into two new solar projects in the Baltic states, with a combined capacity of 198.8MW.

The projects consist of a 120.8MW facility near the city of Jekabpils in Latvia, for which the company will invest €109 million, and a 78MW project near Seduva in Lithuania, which will require €70 million for its construction. The company plans to begin construction on both plants “mid-2024”, and expects both to begin commercial operation in 2025.

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

“The markets in the Baltic countries have reached a certain new stage of maturity when new opportunities to develop large-scale projects arise alongside the development of usual smaller-scale solar parks,” said Simonas Šileikis, head of solar business at Green Genius. “Each of the large-scale projects will be of great importance in decentralising the energy sources and strengthening the energy independence of the entire region.”

Lithuania’s solar sector is a small, but growing, industry, adding 313MW of new solar capacity in 2022. This figure is also encouraging compared to other power sources; Lithuania produced around 2GW of electricity from fossil fuels in 2022, around 40% of its total electricity supply, comparable to the 39% of its supply that derived from renewable energy sources.

However, its renewables mix remains heavily reliant on wind, with wind power accounting for 50% of its renewable energy capacity, compared to solar, which accounted for 35%. The country has ambitious plans to expand its renewables capacity further, with the 2023 draft of its updated National Energy and Climate Plan targeting a 55% renewable share of the total energy mix by 2030, greater than the 42.5% target for the EU as a whole.

Renewables make up a greater proportion of Latvia’s energy mix, accounting for 64% of the total energy mix in 2022, and as is the case in Lithuania, the contribution of solar is small. 82% of Latvian renewable power generation came from the hydropower and marine sectors in 2022, compared to just 3% from solar.

The solar sector is growing slowly, with the country adding 49MW of new solar capacity in 2022, and the work of private companies will be integral to realising these ambitions.

The news follows investments made into solar power in both Lithuania and Latvia by renewables developer European Energy, as interest in solar power in the Baltic states grows.

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

Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.
October 13, 2025
The world is on pace to exceed 3TW of cumulative solar installations by the end of the year, according to a report from DNV.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 9, 2025
Solar PV is the world’s cheapest technology to generate electricity, according to a study from the University of Surrey, in the UK.
October 9, 2025
Entergy Arkansas has announced plans to build a 600MW solar-plus-storage project to support a new data centre to be built by Google.
October 9, 2025
Germany has awarded contracts to 490MW of solar-plus-storage projects in its latest “innovation” auction for co-located renewables.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK