Powering a Greener Future: Nala Renewables and Green Genius Join Forces in Lithuania
Renewable energy pioneer Green Genius has entered into a dynamic partnership with Nala Renewables (Nala), culminating in an agreement to transfer a 34MW solar portfolio in Lithuania to Nala.
But that’s just the beginning. In an exciting move, Nala has also signed an agreement with Green Genius to acquire an additional 45MW of PV projects in the near future, bringing the total Lithuanian portfolio to a remarkable 79MW.
This full portfolio is set to generate approximately 96,000MW hours of clean energy annually, meeting the energy needs of around 9,500 households and slashing CO2 emissions by approximately 20,000 tonnes each year. With secure offtake agreements in place, Nala ensures revenue stability over the medium term.
Will Herlinger, Director of Nala Renewables, expressed his enthusiasm, stating, “We’re delighted to have expanded into Lithuania via the acquisition of this operational PV portfolio from Green Genius, a well-established counterparty for Nala. We see the Baltics as a key strategic region for our business and plan to continue to grow our presence there.”
Green Genius’ Chief Financial Officer, Rokas Bancevičius, shared his excitement as well: “We are thrilled that Nala Renewables has chosen projects developed and built by Green Genius as their entry point to Lithuania. This acknowledges the high quality of renewable energy projects our team delivers. We thank Nala’s team for their trust and professionalism.”
Adding to the positive sentiments, Tadas Balsys, Head of M&A at Green Genius, said, “This transaction with Nala Renewables marks an exciting milestone not only for Green Genius but also for Lithuania and the Baltics region. We are proud to contribute to the growth of the Baltics’ renewable sector by delivering additional PV capacity and attracting a new institutional investor.”
Together, these companies are making significant strides in renewable energy, ensuring a greener, more sustainable future for Lithuania and the Baltic region.
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