Green Genius expands its business operations into Hungary and Romania

Green Genius, a renewable energy company owned by the international group of companies Modus Group, starts its operations in two new markets – Hungary and Romania. Here the company will develop solar energy projects. Green Genius plans to implement projects with a total capacity of more than 450 megawatts (MW) with a foreseen investment of EUR 300 million in the upcoming years.

 

“We see a rapidly growing demand for renewable energy throughout Europe. The ambitious goals of the European Union in pursuit of the climate-neutral model encourage countries to increasingly focus on renewable energy development. Hungary and Romania have promising potential for the development of solar projects. At the moment, their solar energy sectors are at the rapid growth phase – more than 1 GW capacity of solar power plants is already installed in both countries.  Geographically they are favourable for such projects, for this reason, we have decided to start our operations here,” says Ruslan Sklepovič, Modus Group’s Board Member responsible for the energy sector and CEO of Green Genius.

 

Green Genius already opened its office in the Hungarian capital Budapest. In Romania, the office is planned to be opened in the second quarter of 2020. It is foreseen to implement the first projects in 2021.

 

Upon entering the two new markets, the geographic area of the company’s operations will expand to 8 countries. Apart from Hungary and Romania, Green Genius also develops renewable energy projects (solar and biogas) in Lithuania, Poland, Belarus, Ukraine, Italy and Spain.

 

The total capacity of Green Genius projects currently exceeds 100 MW. According to the company’s estimations, these projects allow to save around 170 thousand tons of CO2 every year. By 2025, the total capacity of implemented renewable energy projects by Green Genius is expected to reach 1.5 GW. In the next 5 years, the company aims to enter the TOP25 of renewable energy developers in Europe.