European renewable energy company Green Genius will invest €35mn ($37.5mn) to upgrade its biogas plant portfolio in Lithuania to biomethane production, it said on April 29 via a LinkedIn post.
Swedbank Lithuania will partly finance the project, and the Environmental Project Management Agency of the Ministry of Environment of Lithuania will provide an additional €8.5mn.
“Local biomethane production is critical for Lithuania to meet the country’s decarbonization targets. In addition, the biomethane production infrastructure will strengthen Lithuania’s role in the region and create a solid foundation for a long-term and efficient greening of the transport sector,” said Ruslanas Sklepovicius, CEO of Green Genius.
Green Genius currently operates a biogas power plant portfolio in Lithuania comprising 11 facilities, nine of which are suitable for biomethane production. As part of the upgrade initiative, seven of these plants will be equipped with biomethane production facilities. Additionally, a new biogas plant will be constructed specifically for biomethane production, further expanding Green Genius’ renewable energy capacity.
The transformation of Green Genius’ biogas-biomethane portfolio is set to commence as early as 2024, with full completion expected by 2026. This timeline encompasses the construction of biomethane facilities, the establishment of a new power plant, and the installation of two biomethane injection points.
