29 million Swedbank granted a EUR 100,000 loan to Green Genius, the bank announced on Monday.
According to Green Genius director Ruslan Sklepovičius, this will be the largest such project in the region.
“We have been working with biogas for 10 years. Previously, they were made from waste and produced electricity. The cost of such electricity is now 130 euros per MWh (megawatt hour – BNS), when the market price is 70 or 80 euros per MWh. Producing electricity from biogas made no sense,” said R. Sklepovičius to “Verslo žinia”.
According to the bank, the company will use more than half of the loan funds for the biogas power plant conversion project – biomethane devices will be installed in 7 power plants and one new biomethane power plant will be built.
The “Green Genius” project is planned to start this year, and the construction of a new power plant, the installation of biomethane production facilities in already operating biogas plants and the installation of 2 biomethane entry points into the gas network are planned for 2026.
Last year, the bank granted the company 92 million. EUR financing for an 80 MW wind park in the Jurbarka district.
Green Genius is a renewable energy company developing solar, biogas, wind and green hydrogen energy projects. The company is currently developing a portfolio of over 2 gigawatt (GW) projects in 8 European countries.
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2024-04-30 16:37:31