Monday, June 27 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
Week of May 23
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Green Genius plans to develop 700MW of renewable energy capacity

    May 13, 2022 - MarketLine


      Lithuania-based renewable energy firm Green Genius is planning to develop solar power plants with 500MW of capacity in Lithuania by 2025.

      At the same time, the company also intends to develop wind farms with 200MW of capacity in the country.

      These solar and wind facilities will collectively add 700MW of renewable energy capacity to the country and will require a E750m ($783m) total investment.

      Green Genius CEO Ruslan Skelpovic said: "The European Commission has urgently issued a communication to all members of the EU promoting the development of renewable energy as a matter of particular public interest. And we take our role in this process seriously and responsibly.

      "Until now, renewable energy has largely addressed the issue of sustainability. However, today it also addresses the challenges of energy independence and socioeconomic well-being."

      The projects will be developed in the whole territory of Lithuania and are expected to come online by the end of 2024.

      Once operational, the solar and wind facilities will have the capacity to meet around 10% of Lithuania's total electricity demand.

      The two projects will have the capacity to offset 556,000t of carbon emissions a year, which is equivalent to the amount of carbon dioxide absorbed by 26.5 million young trees.

      In addition to these facilities, Green Genius plans to develop a combined solar-wind power plant model.

      Skelpovic added: "This kind of solution would use land more efficiently and ensure the optimal use of electricity networks, thus addressing the country's grid capacity matter.

      "In addition, it will allow us to offer our customers mixed solar-wind electricity at a friendlier price."

      Earlier this year, Green Genius announced plans to directly invest more than E100m in an 85MW wind farm project in Lithuania.

      The company had recently agreed to acquire the rights to the project.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.