Green Genius secures €87 million financing to construct the stand-alone solar park in Latvia.
Renewable energy company Green Genius signed two deals with financial institutions of German origin to finance the construction of stand-alone solar park in Latvia. The Berenberg Bank loan is EUR 26 million, while Nord LB, the biggest bank in Northern Germany, lends EUR 61 million. The total planned investment into this solar project is over 100 million euros.
It is expected that 121 MW solar park located in Jēkabpils will start generating green electricity in mid-2025. It will save 121,000 tons of CO2 yearly.
TGS Baltic has assisted Green Genius when acquiring shares in a Latvian company, as well as in the fundraising process assisting with due diligence of the project and project-related advice.
TGS Baltic team in this project was led by Agnese Hartpenga, partner and attorney at law, head of Energy practice group in Latvia, and included associates Elīna Lesničenoka and Evija Ābele, as well as junior associate Anete Neretniece.
Green Genius, part of Modus Group, currently has over 2.6 GW of projects in development and under construction in its pipeline across eight 8 European countries.
More information on the project available here.
Previously, we have published information on the project here.
