The Nordic Investment Bank (NIB) and NORD/LB have signed financing agreements with Lithuanian renewable energy company Green Genius for two large-scale solar projects.
NIB will provide €28m under the InvestEU programme, while NORD/LB will contribute €36m.
The funding will support the construction of two solar parks with a combined capacity of 91 MWp in Izabelinė (Ignalina municipality) and Lieponys (Trakai district).
The Izabelinė site will also host an 18 MW battery energy storage system (BESS) to enhance grid integration.
Rokas Bancevičius, CFO of Green Genius, said: “This partnership enables us to implement one of the most technologically advanced renewable energy solutions in the region.
By combining large-scale solar generation with battery energy storage, we are introducing a hybrid model that ensures flexibility.
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.”
“Martin Lundström, Associate Director, Project & Structured Finance at NIB, said: “In recent years, Lithuania has rapidly expanded its renewable energy capacity, and we are proud to be part of this journey.
“These projects will further support the diversification of the energy mix and reduce reliance on imported electricity.”
Niels Jakeman, Head of Energy Origination Europe at NORD/LB, said: “We’re thrilled to continue our partnership with Green Genius by financing its latest solar projects in Lithuania.
“The sites will play an essential role in boosting the country’s PV capacity and driving forward its renewable energy transition.”
The two solar farms are expected to generate around 100GWh of renewable electricity annually, reducing carbon dioxide emissions by an estimated 67,000 tonnes per year.
Construction is scheduled to begin in August 2025, with commercial operations targeted for July 2027.
Green Genius currently holds a renewable energy portfolio of around 2.7GW.
