Green Genius, a renewable energy developer and independent power producer owned by Modus Group, is to receive an equity investment of up to 100 million euros from the European Bank for Reconstruction and Development (EBRD). This investment will fund Green Genius’ expansion plans through 2029 in various European countries.
Upon completion of the deal, which is still subject to approval by competition authorities in several countries, the EBRD will become a minority shareholder of Green Genius.
The 100 million euros EBRD investment will support Green Genius’ European growth strategy that includes the development of over 2 gigawatts of renewable energy, accelerating Europe’s clean energy transition and enhancing the region’s energy independence and security.
“We are delighted to form a partnership with EBRD. This partnership reflects Green Genius’ long-term strategy to further built development portfolio and transition into an independent power producer. This institutional partner will enable us to invest more actively in new renewable energy projects,” – said Ruslan Sklepovič, CEO of Green Genius.
Grzegorz Zielinski, the EBRD’s Head of Energy Europe, said: “Promoting renewable energy is central to EBRD objectives, and enhancing energy security remains a key priority for the Baltic States. There is no better way to achieve these goals than by partnering with an existing client from our countries of operations, with whom we have successfully delivered numerous projects over the past decade. We are very pleased to have the opportunity to become a shareholder in Green Genius and are eager to support their green ambitions and expansion plans across Europe.”
The funds will be directed toward developing and acquiring renewable energy projects in the Baltics, Poland, Romania, and the other European markets.
