Green Genius has agreed to buy the rights to a wind farm project in Lithuania with a capacity of 85 megawatts.
According to Green Genius, this project will account for roughly 13% of Lithuania’s existing wind power portfolio. The project will be implemented without the assistance of the government, and the corporation will invest over €100 million in it directly.
Businesses in Lithuania will purchase green energy from the new wind power facility, reducing CO2 emissions by about 130 thousand tonnes.
The project had already secured the necessary permissions at the time of agreement, and design work for the power plant is already ongoing. In the first half of this year, the major equipment manufacturer will be chosen, and 15 wind turbines will be deployed in stages by the summer of 2024.
One power plant will have a capacity of more than 5MW. Agricultural operations will also continue in the vicinity of the wind farm. The company is working to make the wind farm state-of-the-art and exceedingly quiet, with colours that mimic the natural background and blend in as much as possible with the surrounding terrain.
Ruslan Sklepovi, the CEO of Green Genius, said: “While we have been operating for more than 10 years, these are our first essential steps in the wind energy sector.
“We care about a clean future, so we plan to offer attractive products to our consumers by combining renewable energy sources.
“We are also happy to be making a significant investment in Lithuania.
“Green Genius aims to help consumers eliminate polluting technologies by offering 100% renewable energy of different sustainable technologies combined.”
Lithuania has pledged to generating more than half of the country’s energy needs from onshore and offshore wind farms by 2050. Darius Bieka, the business manager for Green Genius wind and green hydrogen, said “To achieve Lithuania’s energy independence and stability of electricity prices, it is necessary to develop renewable energy rapidly.
“Both wind and sun, and hydrogen in the future, are the areas we need to focus on.
“It is gratifying that the first steps of Green Genius in wind energy are being taken in Lithuania.”
This wind project will add to the company’s current pipeline of projects, which includes 1.5 GW of solar, biogas, and wind power to be installed by 2025, with plans to expand into other markets.
Green Genius is planning additional wind energy installations, with a total capacity of 75MW by 2024, in addition to the 85MW already planned.
Bieka is also exploring growing its market share in Latvia and Poland. The company wants to establish a green hydrogen pilot project in 2024, as well as pilot storage solutions.