RE Firm Green Genius Expands Solar Portfolio in Poland

By Saur News Bureau/ Updated On Fri, Jan 6th, 2023

Highlights :

Currently, Green Genius has large presence in the Polish market and this is the largest deal by the firm here.

RE Firm Green Genius Expands Solar Portfolio in Poland

Renewable energy firm Green Genius and Poland-based banking group mBank have entered into a financial transaction worth PLN220m (€46m) that will pave the way for the establishment of a 69 MW solar portfolio.

Currently, Green Genius has large presence in the Polish market and this is the largest deal by the firm here. The first project under the portfolio is for 66 MW and under construction. The second project worth 69 MW will be financed basis the financial transaction with mBank. The Bank has made investments worth PLN1bn solar projects at large scale.

Green Genius has a total portfolio of 128 MW in Poland so far. These encompass three power plants. The firm has another 263 MW project portfolio that is in the construction phase in Poland. Last year, Green Genius said it was establishing its fourth solar project in Poland.

Currently, Green Genius has over 1 GW of projects in pipeline. The firm also has a presence in Romania, where it signed its first solar development contract for cumulative 500 MW. For the project development, the firm is working with local Romanian developers. The cooperation looks at the development of a 10 MW solar park at South Romania and an investment worth € 8m has been made towards it. At present, the firm has close to 180 MW projects in at early stage of development. However, the green energy firm is looking to establish a solar portfolio of cumulative 500 MW in three years. As of now, Green Genius is operational in eight European countries, with Romania being one of them. It also has wind energy in its kitty.