solar power

Green Genius to Invest over EUR 450 million in Photovoltaic Parks in Romania

Green Genius, a renowned European renewable energy producer, intends to create approximately 500 MW of solar PV capacity in Romania by 2025 in order to provide green and clean energy in the nation. According to Green Genius executives, the business intends to spend around EUR 450 million in this project, which will help lower the cost of power in Romania by creating green energy, energyindustryreview.com writes. Globally, there is an enormous need to decrease greenhouse emissions, and beginning at the local level is critical.

Romania has set a goal of 30.7 percent renewable energy sources in its entire energy mix by 2030, according to the National Integrated Plan for Energy and Climate Change 2021–2030. However, in order to achieve this goal, the Romanian energy production system would need huge investment in the future years. The growth of the Romanian renewable energy industry is critical to assisting with the transition to clean energy, and expert assistance in this regard is welcomed.

Green Genius is a prominent European renewable energy developer, with projects in Lithuania, Poland, Italy, and Spain, and over a decade of expertise in developing biogas, solar, wind, and hydrogen projects.

Green Genius’ work in this area has resulted in a thorough understanding of European green energy policy challenges and regulations, as well as local community concerns.

Currently, the entire pipeline of Green Genius Solar PV projects in development, construction, or already operational in all markets exceeds 1.5 GW. The business built the most modern, efficient, and biggest solar power plant in the Baltics last year. Furthermore, by 2021, Green Genius will have created 399 GWh of green energy and conserved around 335k tons of CO2, which is comparable to growing over 16 million trees. Green Genius’ purpose as a leading developer is more crucial than ever as the firm aids Europe’s transition to a greener future.

Choosing to be sustainable is not only beneficial for the environment, but it may also save money. Solar, in particular, has seen remarkable price reductions. It was the most costly choice for constructing new energy capacity only ten years ago, but the cost has subsequently decreased by 90%, according to data from the Levelized Cost of Energy Report. Furthermore, not only are solar panels at an all-time low in price, but today’s solar systems are significantly more efficient and capable of producing more electricity with a smaller footprint.