Green Genius will invest more than EUR 100 million in solar parks in Poland
Renewable energy company Green Genius, which is part of the international group of companies Modus Group, continues to actively expand the capacity of its solar power plants in Poland. At the end of 2020, the company won two auctions for solar power plant projects with a total capacity of 79 MW. In addition, one of the largest developers of solar energy in Poland plans to offer businesses an innovation and to install solar power plants with total capacity of 32 MW under market conditions this year. Green Genius intends to install new solar power plants with a total capacity of 154 MW in Poland in the near future.
Green Genius is the developer that won the most projects, a total of 79 MW, at the auctions held in November and December 2020. Under the new contracts, Green Genius will install two solar power plants of 8 MW and 63 plants of 1 MW in different regions of Poland. Investment in these projects will amount to EUR 57 million. In addition, this year Green Genius will install solar power plants of 32 MW, under market conditions, and sell the energy to various companies.
The company is currently completing the construction of solar power plants of 43 MW throughout the country – projects that were won in the 2019 auctions. Total investment in all planned and already-implemented projects amounts to more than EUR 100 million.
“We continue to see Poland as one of the most attractive solar energy markets, with the rapid and targeted development of renewable energy infrastructure, and a favourable regulatory and investment environment. Every year, we build an ever-increasing number of solar power parks in Poland, thus contributing to the growth of the country’s green energy and mitigating climate change. Due to the recently won projects, we plan to further expand our team,” says Simonas Šileikis, Head of Solar Energy Business at Green Genius.
“We plan to implement not only the projects won at auctions, but also to offer an innovative idea: to develop solar power parks under market conditions and to sell electricity to businesses or the power exchange. Many large companies operating in Poland are already interested in the possibility of buying green energy from such parks. We intend to pay more and more attention to this area,” says Ruslan Sklepovič, CEO of Green Genius. In the southern Europe, solar energy has been developed under market conditions for years, and it is encouraging that this is now a reality in northern and central Europe.
Green Genius is one of the largest developers of solar energy in Poland. To date, the company has installed solar power plants of 86 MW in the country. In 2019 and 2020, the company sold these power plants in two portfolios to Aberdeen Standard Investments, one of the world’s largest asset management companies. Green Genius has also installed the one of the largest solar power plants in Poland for business, which supplies energy to the factory of Ferrero, the manufacturer of confectionery and chocolate. The capacity of this power plant is more than 2,2 MW.
By mid-2022, after implementation of all planned projects, the capacity of solar power plants installed by Green Genius in Poland will reach almost 0.25 GW (242 MW). These power plants will account for about 4,5 per cent of all solar power capacity in Poland, and carbon dioxide emissions into the atmosphere will be reduced by 192 000tonne.