Energy Economy

05 Feb 2021

Green Genius to Invest over 100 mln Euros in Solar Energy in Poland

05 Feb 2021  by Reuters   

Green Genius, a part of Modus Group, plans to have 242 megawatts (MW) of installed capacity of solar power in Poland by 2022, with the total investment expected at over 100 million euros, the company said on Thursday.

Solar energy in coal-reliant Poland has surged to 3.7 gigawatt (GW) in 2020 from 1.5 GW in 2019 due to hefty subsidies.

"We see Poland as one of the most attractive markets for solar energy, rapidly moving towards the use of renewable energy and with a favourable regulatory environment and investment," said Simonas Šileikis, head of solar department at Green Genius.

The company has to date built solar power plants with a total capacity of 86 MW in Poland. It plans to build a new 32 MW project this year.

"In mid-2022, after the implementation of projects planned by Green Genius, the capacity of all photovoltaic farms installed by the company will be almost a quarter of a gigawatt (242 MW)," the company said.

Green Genius is developing PV projects in Poland, Spain, Italy and Lithuania.

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