All projects are located in Lithuania, extending Nala’s presence in OECD markets.
The solar PV portfolio is already in operation and will support Nala's contribution to the UN Sustainable Development Goals by generating around 96,000MWh of clean energy per year from the full 79MWp portfolio, representing the energy use of around 9,500 households, as well as saving approximately 20,000 tons of CO2 equivalent emissions per year.*
The portfolio benefits from offtake agreements that provide revenue security over the medium-term. Terms of these agreements are not disclosed.
“We’re delighted to have expanded into Lithuania via the acquisition of this operational PV portfolio from Green Genius, a well-established counterparty,” said Will Herlinger, Director at Nala Renewables.
“We see Central and Eastern Europe as a strategic region for our business and plan to continue to grow our presence there.”
“We are excited that Nala Renewables has chosen projects developed and built by Green Genius as their entry point to Lithuania, acknowledging the quality of renewable energy projects that our team delivers,” said Rokas Bancevičius, CFO of Green Genius.
* Calculated using UNFCCC IFI Default Grid Factors.
