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

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 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

July 21, 2025
Xcel Energy has announced plans to install 2GW of new renewable energy capacity in the US states of Texas and New Mexico.
July 18, 2025
Companies have signed 4.22GW of solar PV power purchase agreements in the first half of 2025, according to Swiss consultancy Pexapark.
Premium
July 18, 2025
Inside the European Solar Academy's steps to equip Europe’s workforce with necessary skills as it approaches its first anniversary.
July 18, 2025
Georgia Power’s 2025 Integrated Resource Plan (IRP) will see the utility aim to install 4GW of new renewable power capacity by 2035.
Premium
July 17, 2025
Implementing greater policy clarity pertaining to the EPBD will be essential if Europe is to realise its distributed rooftop solar targets.
July 17, 2025
Corporate funding in the solar sector fell by 39% in the first half of 2025 compared with the same period last year.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK