Through funding for renewables ventures in Europe, the renewables company Green Genius has raised € 30 million.
The loan with Eiffel Energy Transition Fund was negotiated with Green Genius, a Modus Group renewable energy subsidiary.
In Lithuania, Poland, Ukraine, Belarus, Spain and Italy, the organization will use the funds to build and expand green energy initiatives. Also in other Central European nations, the organization is aggressively looking for opportunities for enlargement.
Capcora served as Green Genius ‘ financial advisor.
“This transaction is extraordinary as it was not granted at the same project-level but revolvingly at European platform that is owned by the group’s portfolio of renewable projects,” said Ruslanas Sklepovicius, Chief Executive of Green Genius.
“It reflects the trust in our robustness and professional production and construction in renewable energy projects of a financial institution such as Eiffel Investment Group.” Green Geneva’s investment in the field of renewable energy activities more than doubled in 2019 to € 115 million, as opposed to 2018.
By 2025, Green Genius is expected to reach a total capacity of 1.5GW in the implementation of renewable energy projects.
“We chose collaboration with Eiffel Energy Transition for various reasons after weighing all the offerings available. It was critical that Green Genius invested in the best possible terms, used the funds for ventures across Europe markets and had a partner who knew very well the business and could decide quickly. All these targets were accomplished, “said the Chief Financial Officer of Green Genius, Rokas Bancevicius.
“The business of Green Genius is a combination of project development and distribution and IPP strategies, which is not always easy for traditional debt providers. Capcora’s managing partner Alexander Kuhn said.
“However, we have been able to attract a number of interesting offerings from a diverse range of international lenders with a clearly defined market and project strategy and a transparent development roadmap for the following years.