Nala Renewables further expands into Central and Eastern Europe
Published by Jessica Casey,
Editor
Energy Global,
Nala Renewables, a global power and renewable energy investment and development platform, has acquired a 34 MWp operational solar photovoltaic (PV) portfolio from renewable energy group Green Genius. In addition, Nala has signed an agreement with Green Genius to acquire a further 45 MWp of PV projects in the near-term that are expected to increase the total size of the portfolio to 79 MWp. 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 96 000 MWh of clean energy per year from the full 79 MWp portfolio, representing the energy use of around 9500 households, as well as saving approximately 20 000 tpy of CO2-e emissions. 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,” added Rokas Bancevicius, CFO of Green Genius.
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Read the article online at: https://www.energyglobal.com/solar/29072024/nala-renewables-further-expands-into-central-and-eastern-europe/
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