The European Bank for Reconstruction and Development has increased its equity stake in Green Genius by making a €50 million follow-on investment in the company. Green Genius, a renewable energy developer and independent power producer based in Lithuania, first received investment from the Bank in 2024, when the EBRD became a shareholder through an initial €100 million commitment. With this latest transaction, the EBRD’s total investment in the company now reaches €150 million.
Green Genius has already deployed the proceeds from the initial funding and is continuing to develop its 1.9 GW pipeline across Lithuania, Latvia and Poland. The new capital will support the company’s broader growth plans, which include expanding battery energy storage systems (BESS) in the Baltic states and Poland. It will also help accelerate a range of renewable energy projects across the EBRD’s investee markets, strengthening the region’s shift toward cleaner power. These efforts are vital for integrating variable solar and wind energy into the grid, improving energy security, and reducing dependence on imported fossil fuels.
Grzegorz Zielinski, EBRD Head of Energy Europe, said that the Bank is pleased to deepen its support for Green Genius. He noted that the investment will not only fuel the company’s ongoing expansion but also help build a more diverse and resilient energy system for the region. Zielinski expressed confidence in the Green Genius team’s capability to advance the next phase of development.
Tomas Kairys, EBRD Head of the Baltic States, described the deal as an important milestone for the Bank in the region. He highlighted that it aligns with the EBRD’s priority of strengthening energy security and supporting the growth of leading local companies. He also pointed out that this investment will help finance one of Lithuania’s first utility-scale BESS projects, which is expected to significantly enhance grid infrastructure and service reliability.
Ruslan Sklepovič, Chief Executive Officer of Green Genius, welcomed the expanded partnership. He said the EBRD’s decision to increase its investment demonstrates strong confidence in the company’s strategy and the results achieved with the earlier funding. According to Sklepovič, the additional capital will allow Green Genius to focus even more intensively on critical energy projects needed for a stable and sustainable future.
Green Genius is a subsidiary of the Modus Group and is incorporated in the Netherlands while being headquartered in Lithuania. The company has developed 933 MW of renewable assets to date, retaining 298 MW in its current portfolio, which includes solar, onshore wind, biomethane and battery storage projects.
The EBRD remains a major institutional investor in the Baltic region. Its cumulative investments amount to €1.3 billion in Latvia, €2.1 billion in Lithuania and €16.7 billion in Poland. The Bank continues to focus on helping these markets transition to greener and more resilient economies through investments in renewable energy, innovation-driven sectors and capital market development.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
