We advised the French investment company RGREEN INVEST on providing EUR 42 million in funding to the renewable energy company Green Genius. The funds will used to build eight solar projects in Lithuania, with a total capacity of 65.7 MW.
Sharing a strong aspiration for sustainability
“Faced with the imperative to end European dependence on energy imports, it is crucial to remain operational by finding substitutes for our carbon-intensive electricity mix. Boasting increasingly shorter development durations and cost efficiency, renewables enable us to decarbonise our interconnected European grid and increase our entire continent’s energy independence,” comments Nicolas Rochon, CEO at RGREEN INVEST.
“The green transition requires capital providers with financial and specific technical competence in the renewable energy field. These competences are what makes our partners so appreciated in international markets,” says Rokas Bancevičius, CFO at Green Genius.
The solar power plants are scheduled to be built in Lithuania by 2024. They are projected to generate an estimated 82,400 MWh of green energy per year, and to save over 34,600 tons of CO2. These parks will provide green electricity to the B2B sector and will be connected to the electricity distribution network (ESO).
Our services and project team
Our team consisted of partners Augustas Klezys and Asta Augutytė-Rapkevičienė, and counsel Lina Ragainytė-Mezenė, senior associates Justina Paškevičienė and Svetlana Rudaja, associates Ieva Dagytė, Goda Drąsutė, Simonas Šlitas, Laurynas Kontenis, Goda Jakubauskaitė and Sandra Aleksandravičienė, as well assistant lawyer Andrius Pilitauskas.
We advised RGREEN INVEST on all legal matters related to due dilligence and financing the transaction.