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The European Bank for Reconstruction and Development (EBRD) is investing €100 million in Green Genius to help expand its renewable energy projects across Europe. Once approved by competition authorities, EBRD will become a minority shareholder in the company.
This funding will support Green Genius’ plans to develop over 2 GW of renewable energy, contributing to Europe’s green energy transition and strengthening its energy security. This investment marks the EBRD’s largest equity commitment to a single company in the Baltic states and is the first time the Bank has made an external equity investment in Green Genius.
Grzegorz Zielinski, EBRD Head of Energy Europe, said in a statement, “Promoting renewable energy is central to EBRD objectives, and enhancing energy security remains a key priority for the Baltic states. There is no better way to achieve these goals than by partnering with an existing client with whom we have successfully delivered numerous projects over the past decade. We are very pleased to have the opportunity to become a shareholder in Green Genius and are eager to support their green ambitions and expansion plans across Europe.”
Green Genius, a leading renewable energy developer in Lithuania, has grown rapidly in recent years, expanding its projects in several EU countries, including Italy, Latvia, Poland, Romania, and Spain. The EBRD will also assist the company in enhancing its environmental, social, and governance (ESG) practices and supply chain management, while encouraging gender diversity in Lithuania’s energy sector.
Tomas Kairys, EBRD Head of the Baltic states, mentioned, “This is a landmark transaction for the EBRD in the Baltic states, exemplifying the Bank’s commitment to long-term partnerships and continued support for the region. With Green Genius transitioning from a developer to an independent power producer, this investment will accelerate their expansion into EU markets, including the Baltic states, Poland, and Romania. This project embodies the values that the EBRD prioritises, offering a strong governance framework and ambitious ESG standards that could serve as a role model for existing and future clients.”
Ruslan Sklepovic, CEO of Green Genius, also stated, “We are delighted to form a partnership with the EBRD. This partnership reflects Green Genius’ long-term strategy to further build its development portfolio and transition into an independent power producer. This institutional partner will enable us to invest more actively in new renewable energy projects.”
Green Genius, a subsidiary of the Modus Group, is a top renewable energy developer based in Vilnius, Lithuania. The company’s diverse portfolio includes solar, wind, biomethane, and battery projects. So far, Green Genius has developed 2.7 GW of renewable energy projects across various European markets, with 549 MW of projects already completed.
The European Bank for Reconstruction and Development (EBRD) is a leader in climate finance within its regions. Last year, the Bank invested a record €6.5 billion in green economy projects, including over €1.8 billion in Central Europe and the Baltic states. The EBRD also plays a key role in policy dialogue, helping to unlock both private and public green financing across its countries. |
