Green Genius To Invest Over €100 Million To Create Solar Parks In Poland
Green Genius, a renewable energy company that is a part of an international group of companies known as the Modus Group, has sunny ambitions for Poland. At the end of last year, it won two auctions for solar power plant projects with a total capacity of 79 megawatts. Along with these, the company plans to build solar power plants with a total capacity of 32 megawatts this year. In total, Green Genius aims to install new solar power plants with a total capacity of 154 megawatts in Poland “in the near future.”
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The total investment in all of the planned and already implemented projects is over €100 million. Simonas Šileikis, Head of Solar Energy Business at Green Genius, said, “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 favorable 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.”
Poland’s solar power capacity jumped tremendously last year, from 1.5 gigawatts (GW) in 2019 to 3.7 GW in 2020.
Ruslan Sklepovic, Chief Executive Officer of Green Genius, spoke of the idea of developing more solar power parks there. “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.”
Green Genius noted that it is one of the largest developers of solar energy in Poland and has already installed solar power plants with 86 megawatts of power capacity in the country. In 2019 and 2020, it sold these power plants in two portfolios to Aberdeen Standard Investments. The company noted that after it has implemented its planned projects, by 2022, the capacity of solar power plants it has installed in Poland will reach almost a quarter of a gigawatt (242 megawatts).