EBRD increases stake in Lithuania’s Green Genius

• EBRD buys a further €50 million equity stake in Green Genius, a leading renewable energy developer in the Baltic States and Poland
• New capital will support Green Genius’s capex programme in Lithuania, Latvia and Poland
• Strong focus on new battery energy storage system (BESS) projects, including one of the first utility-scale BESS projects in Lithuania

The European Bank for Reconstruction and Development (EBRD) has increased its equity stake in Green Genius, a Lithuanian renewable energy developer and independent power producer, with a €50 million follow-on investment.

The EBRD became a shareholder in Green Genius in 2024 with an initial €100 million investment. The latest purchase brings its total commitment to €150 million.

With the initial investment proceeds already deployed, Green Genius continues to advance its 1.9 GW development pipeline across Lithuania, Latvia and Poland. The new capital will support its growth strategy, including the expansion of battery energy storage systems (BESS) in the Baltic states and Poland, and the acceleration of new renewable energy projects in the EBRD’s investee economies.

These initiatives are essential to integrating intermittent solar and wind generation, strengthening regional grid resilience and reducing reliance on imported fossil fuels, ultimately helping to build a more robust and self‑sufficient power system.

Grzegorz Zielinski, EBRD Head of Energy Europe, said: “We are pleased to support Green Genius with this follow-on investment. Our capital will not only back Green Genius’s continued growth, but also contribute to a more diversified and resilient energy system in the region. We trust the Green Genius team's ability to execute the next phase of development.”

Tomas Kairys, EBRD Head of the Baltic States, said: “This is another landmark transaction for the EBRD in the Baltic states. It delivers on the EBRD’s key priorities in the region – supporting the growth of local champions and building resilient and secure energy systems. We are proud that our investment will support one of the first utility-scale BESS projects in Lithuania, which will significantly improve the infrastructure and service reliability of the electricity grid in the region.”

Ruslan Sklepovič, Chief Executive Officer of Green Genius, said: “We are delighted to strengthen our partnership with the EBRD. Its decision to increase its investment is a powerful endorsement of our strategy and the tangible results our team delivered with the initial funding. This new capital injection allows us to focus our efforts on a critical area for a stable and sustainable energy future.”

Green Genius, a subsidiary of Modus Group, is a leading renewable energy developer and power producer, incorporated in the Netherlands and headquartered in Lithuania. To date, it has successfully developed 933 MW of renewable assets, of which 298 MW remain in its portfolio. The company’s portfolio spans solar, onshore wind, biomethane and battery storage assets.

The EBRD is a leading institutional investor in Lithuania and the wider Baltic region. To date, the Bank has invested €1.3 billion in Latvia, €2.1 billion in Lithuania and €16.7 billion in Poland. The Bank’s activities focus on supporting the region’s transition to a greener and more resilient economy through investments in renewable energy, capital market development and innovation-driven sectors.