VILNIUS - Green Genius, a Lithuanian renewable energy company, plans to invest 179 million euros into solar farms in Lithuania and Latvia.
The construction of both power plants is planned to start by mid-2024. The solar power plant in Seduva, Lithuania, will spread over 140 hectares and Green Genius will invest 70 million euros in its construction, the company said on Thursday.
It also plans to build a 153-ha solar farm near Latvia's city of Jekabpils, and invest 109 million euros.
Both solar parks in Lithuania and Latvia are expected to become operations in 2025 and supply green electricity to the B2B sector. They will produce 245 GWh of electricity yearly.