Green Genius completed large scale solar energy projects in Poland and Ukraine and is planning a new stage of growth
Green Genius, a renewable energy company that is a part of the international group of companies Modus Group, has successfully implemented large scale solar energy projects in Poland and Ukraine. The company implemented solar parks with a total capacity of 74 megawatts (MW) in these markets, more than EUR 66 million was invested in these projects. Green Genius has already secured financing for the new solar energy parks development in Poland and is starting a new stage of growth in the country.
The capacity of the implemented solar power parks in Poland amounts to 41 MW, more than EUR 36 million was invested in these projects. Meanwhile, in Ukraine, Green Genius installed a solar project of more than 33 MW, investments exceeded EUR 30 million. The latter project was implemented in partnership with the European Bank for Reconstruction and Development (EBRD).
Green Genius has already started new solar power parks development stage in Poland. Total capacity of the new portfolio will exceed 42 MW with investments amounting EUR 39 million. The company foresees to implement the portfolio by the end of the year.
„We have established ourselves as one of the major solar energy developers in Poland. By the end of the year, we also plan to implement our first biogas project in the country. Due to current uncertainties raised by the pandemic globally as well as the measures taken by governments across Europe, we had to realign our short-term business plans. However, we see big potential to develop both solar and biogas projects in Poland. For this reason, we will continue rapid growth in this market and have set a long-term goal to strengthen our positions – we are here for the long run,” says Ruslan Sklepovič, CEO of Green Genius and Modus Group’s Board Member responsible for the energy sector.
Upon the implementation of the third solar park portfolio, the total capacity of solar projects installed by Green Genius in Poland will amount to almost 130 MW. They will generate more than 136 GWh green energy annually. It is equivalent to CO2 that approximately 1.8 million 10-year-old trees could absorb in a year.
In 2019, the company sold a 45.4 MW solar parks’ portfolio to the leading global asset manager Aberdeen Standard Investments infrastructure fund. According to Green Genius data, it was the largest transaction for solar power parks in Poland at that moment.
Green Genius develops renewable energy projects (solar and biogas) in 8 European countries.