Baku. TurkicWorld:
The European Bank for Reconstruction and Development (EBRD) is making a significant equity investment of 100 million euros in the renewable energy developer Green Genius, TurkicWorld reports.
Pending approval from competition authorities, the EBRD will become a minority shareholder in the company.
This investment will bolster Green Genius's European growth strategy, enabling the development of over 2 GW of renewable energy. The initiative aims to facilitate the region's transition to green energy while diversifying its energy supply and enhancing security in Europe.
The EBRD's support for Green Genius builds on a decade-long partnership, marking its largest equity commitment to a single company in the Baltic states and the first external equity investment in Green Genius. The company, one of Lithuania's fastest-growing developers of renewable energy, has expanded its portfolio across several EU markets, including Italy, Latvia, Poland, Romania, and Spain.
In addition to financial support, the EBRD will assist Green Genius in enhancing its environmental, social, and governance (ESG) standards and improving supply chain management. The company is also committed to promoting gender diversity in Lithuania's energy sector.
Grzegorz Zielinski, EBRD Head of Energy Europe, stated, “Promoting renewable energy is central to EBRD objectives, and enhancing energy security remains a key priority for the Baltic states. We are very pleased to have the opportunity to become a shareholder in Green Genius and support their green ambitions across Europe.”
Last year, the EBRD delivered a record 6.5 billion euros in green economy finance, with over 1.8 billion euros allocated to Central Europe and the Baltic states. The bank continues to engage in policy dialogue to unlock further green financing in the region.
