Green Genius to Invest over EUR 450 mln in Photovoltaic Parks in Romania
The leading European renewable energy developer Green Genius plans to build over 500 MW Solar PV capacity in Romania by 2025 to generate green and clean energy in the country. According to Green Genius representatives, the company aims to invest about EUR 450 million in this project, through which, by producing green energy, Green Genius will help reduce the cost of electricity in Romania. Globally, the need to reduce greenhouse gases is immense, and starting at a local level is essential.
According to the National Integrated Plan for Energy and Climate Change 2021–2030, Romania has set the target that 30.7% of its total energy mix will be from renewable energy sources by 2030. However, to reach this target, the Romanian energy production system needs massive investment in the coming years. To help with the transition to clean energy, the development of the Romanian renewable energy sector is crucial, and professional input to achieve this is welcomed.
“We see a rapidly growing demand for renewable energy throughout Europe. The ambitious goals of the European Union in pursuit of the climate-neutral model encourages countries to increasingly focus on renewable energy development. With its energy sectors currently in a rapid growth phase, Romania has promising potential for the development of solar projects. Geographically, Romania has numerous advantages when it comes to solar energy investments, and we are prepared to invest here in the coming years,” says Ruslan Sklepovič, CEO of Green Genius.
With over a decade of experience in creating biogas, solar, wind and hydrogen projects, Green Genius is a leading European renewable energy developer, with projects all over Europe, including Lithuania, Poland, Italy and Spain. Green Genius’ work in this space has led to a deep knowledge of the European green energy political issues and regulations, and also the concerns of local communities.
Currently, the total pipeline of Green Genius Solar PV projects that are under development, construction and already implemented exceeds 1.5 GW in all markets. Last year saw the company build the most modern, efficient, and largest solar power plant in the Baltics yet. Moreover in 2021, Green Genius generated 399 GWh of green energy and saved around 335k tonnes of CO2, equivalent to planting over 16 million trees. Green Genius’ mission as a leading developer has never been more important as the company helps Europe’s transition to a greener future.
“With over a decade of experience in renewable energy, Green Genius simplifies the generation of electricity from renewable sources and enables customers to achieve their sustainability goals. We believe that the use of green energy is the most effective way to stop climate change. We are also working to find an innovative solution that will allow us to get rid of old and polluting technologies so that users can get 100% green energy from various combined renewable sources,” adds Ruslan Sklepovič.
Choosing to be sustainable is not just good for the environment, it can be cost-effective too. Solar, in particular, has decreased in price at a rapid pace. Just 10 years ago, it was the most expensive option for building new energy capacity, but since then, that cost has dropped by 90 per cent, according to statistics from the Levelized Cost of Energy Report. Also, not only is the price of solar panels at an all-time low, but today’s solar installations are also far more efficient and are capable of generating more power with a smaller footprint.
