Green Genius Secures Debt for 69MW Solar Park Portfolio in Poland

Source: www.gulfoilandgas.com 9/23/2022, Location: Europe

The private bank Berenberg and the international renewable energy company Green Genius begin their cooperation with a solar park portfolio in Poland. The Berenberg Green Energy Junior Debt Funds provides mezzanine financing of €22 m, which, along with other financial resources, is to be used for the construction and operation of 69 MWp. The private bank Berenberg acts as an investment advisor to the fund.

The project portfolio with a capacity of 69 MWp consist of individual 1 MWp, 5 MWp or 8 MWp PV plants spread across Poland. The portfolio will operate on a mix of 10-year PPAs, 4-year PPAs and the state-backed 15-year contract-for-difference (“CfD”) support mechanism ensuring stability of electricity pricing for the projects. The portfolio is about to start construction and is expected to be complete in 2023. Total investment into this project will reach up to €59m.

The project portfolio will be built with around 106,200 photovoltaic modules, which will produce enough energy to meet the electricity demand of around 24,200 homes. In addition, 49,490 tonnes of CO2 will be saved from emission into the atmosphere. The project helps Poland to become more independent from fossil fuels like coal, which is still the major source of Poland’s electricity generation.

“Besides the region’s energy independence urgency, sustainability issues have not gone anywhere. Trusted financial partners have always had a major role in making big changes happen. Therefore, we’re delighted to start a new partnership with Berenberg in our long and meaningful journey”, – said Rokas Bancevicius, CFO of Green Genius stated.

The 69 MWp solar park portfolio is one of several investments in Poland for the Berenberg funds but the first with the developer Green Genius marking another successful entry into a long-term partnership. Torsten Heidemann, Head of Infrastructure & Energy of Berenberg said, “We are proud to support Green Genius on its strong growth path in Poland and look forward to finance future Green Genius projects across Europe. They have the know-how and resources to become a major player in the European renewable energy market.”


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