Green Genius, Supplies 25GW to Respect Energy

Green Genius and Respect Energy sign a 10-year power purchase agreement that will avoid 180,000 tons of CO2 emissions.

Share:

Green Genius and Respect Energy sign a 10-year power purchase agreement that will avoid 180,000 tons of CO2 emissions.

Power Purchase Agreements

Green Genius and Respect Energy, by signing a renewable electricity purchase agreement, are part of the decarbonization of the European Union. These contracts allow companies to protect themselves against unexpected variations in the price of electricity. The agreement between the two partners will come into effect in early 2024.

The energy will come from photovoltaic plants with a total installed capacity of 21MW. They are currently under construction in Poland as part of the energy leader’s 4th project portfolio. Povilas-Emilis Čėsna, Head of Trading at Green Genius, says:

“The PPA agreement with Respect Energy represents an important part of our portfolio in the Polish market, so we very much appreciate this partnership. I am convinced that the development of renewable energy sources is the only way to secure energy supply and independence for European countries.”

Environmental, social and governance (ESG) issues are becoming a priority for companies. Incorporating them is a way to help investors evaluate companies. In addition, they are also used to make socially responsible decisions that respect their values.

A European presence

Green Genius is a Lithuanian company in the field of renewable energy. It develops and exploits solar, wind, hydrogen and biomass energy. The group has 1.5GW of projects producing 400GWh in 2020, saving 335 tons of C02.

The Lithuanian company is present in about ten European countries. It has about fifteen projects finalized or in progress. Lithuania, Poland and Italy are the main countries selected to develop the company’s projects.

In 2021, Green Genius will begin construction of the first biogas power plant in Poland. In addition, it is launching solar parks in the Baltic States. Moreover, these projects are currently the largest in the region.

Abraxas Power Corp. receives unprecedented authorisation from Maldivian authorities to develop a 100 MW solar project within a new special economic zone, targeting energy security and national climate objectives.
GreenYellow and Meaders Feeds Ltd finalise a second 1.8 MWp solar project under the Carbon Neutral Industrial Sector Scheme aimed at decarbonising the Mauritian industrial sector.
The Lime Kiln project, developed by Chaberton Energy and Pivot Energy, will provide renewable energy to 500 homes and businesses in Maryland, while reducing greenhouse gas emissions.
MPC Energy Solutions has signed an agreement to sell its stake in the Planeta Rica solar project in Colombia. The transaction is expected to close by the end of 2025.
EDF power solutions has commissioned the Aéroparc photovoltaic plant, with a capacity of 42.2 MWp, in the Territoire de Belfort, making a significant contribution to the region's energy transition.
The overproduction of solar energy in Europe is causing a drop in captured prices, undermining the profitability of producers. In Germany, Spain, and France, capture prices are at record lows, with profound economic consequences.
Altarea Energies Renouvelables has started work on its first ground-mounted photovoltaic plant in Caudecoste, marking a new milestone in its development. The 7 MWc plant is expected to be operational by the end of 2025.
Chinese manufacturer JinkoSolar has delivered three energy storage systems totalling 21.6 MWh to the American company Distributed Energy Infrastructure, as part of the Solar Massachusetts Renewable Target (SMART) programme aimed at strengthening local solar infrastructure.
TotalEnergies ENEOS has commissioned two photovoltaic installations totalling 1.2 MWp for marine logistics group Lee Huat Yap Kee in Singapore, under two long-term power purchase agreements with no upfront investment.
TCL Solar has concluded two exclusive partnerships in Suzhou with AU Solar and Madina Solar to supply 250 megawatts of photovoltaic modules to the Pakistani market, addressing rapidly growing local energy demand.
Mitrex secures Guinness Record for the largest integrated solar facade globally, combining photovoltaics and cultural art in Edmonton, covering over 30,000 square feet with installed capacity exceeding 265 kW.
EDF power solutions completes the acquisition of the 500MW Gate Burton solar-battery project from the company Low Carbon, strengthening its presence in hybrid photovoltaic-storage solutions in the United Kingdom.
The global photovoltaic films market is expected to see significant growth, reaching $41.59bn by 2034 due to the development of new solar technologies and the increasing demand for encapsulation suited to these innovations, a recent study indicates.
Italian group Plenitude has begun building Entrenúcleos, a 200 MW photovoltaic plant near Seville, set to deliver more than 435 GWh a year from 2026 while trialling locally produced green steel.
The state-controlled refiner has launched a 7.5-megawatt photovoltaic unit off Qingdao, the country’s first commercial installation designed for fully saline waters, intended to supply its future renewable hydrogen production.
The Emirati company Global South Utilities plans to install up to 250 MW of solar capacity in Madagascar, a project aimed at strengthening the national electricity network heavily reliant on fossil fuels and frequently facing energy deficits.
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Star Trade, a subsidiary of HD Renewable Energy, has signed a power purchase agreement with Lightsource bp to manage electricity distribution from a 115 MWp solar project located in Chiayi, strengthening their presence in the Taiwanese market.
TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.