The funding will be allocated to two new 91 MWp solar parks in Izabeline (Ignalina municipality) and Lieponys (Trakai district). In addition, an 18 MW battery storage system (BESS) is planned at the Izabeline site, enabling a more efficient integration of renewable energy into the grid.

Rokas Bancevicius, CFO of Green Genius, said: “This partnership enables us to implement one of the most technologically advanced renewable energy solutions in the region. By combining large scale solar generation with battery energy storage, we are introducing a hybrid model that ensures flexibility. It’s a future-proof system that helps stabilise the grid, balances supply and demand, and supports the broader energy transition more smartly and sustainably.”

Martin Lundström, Associate Director, Project & Structured Finance at NIB, added: “In recent years, Lithuania has rapidly expanded its renewable energy capacity, and we are proud to be part of this journey. These projects will further support the diversification of the energy mix and reduce reliance on imported electricity.”

Niels Jakeman, Head of Energy Origination Europe at NORD/LB, concluded: “We’re thrilled to continue our partnership with Green Genius by financing its latest solar projects in Lithuania. The sites will play an essential role in boosting the country’s PV capacity and driving forward its renewable energy transition.”

Together, the solar farms will generate around 100 GWh of renewable energy annually. They are estimated to reduce 67 000 tpy of carbon dioxide.

Construction of both projects will begin in August 2025, with the solar farms expected to reach commercial operation by July 2027.

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

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Dive into the latest renewable energy insights in the Summer issue of Energy Global, out now! This edition features a guest comment from Change Rebellion on the role real change management can play in the global energy sector before a regional report, which looks at energy trends and transformations across the Americas. Other key topics are also explored, including offshore support vessels, floating wind, weather analysis, and battery storage. Contributors include Ørsted, CRC Evans, Miros, Solcast, and more, so don’t miss out!

Read the article online at: https://www.energyglobal.com/solar/13082025/nib-and-nordlb-co-finance-green-genius-solar-projects-in-lithuania/