Lithuanian renewable energy developer Green Genius raises €100M

Lithuanian renewable energy developer Green Genius has raised €100M from the European Bank for Reconstruction and Development (EBRD), which will become a minority shareholder in the company. This is the first external equity investment for Green Genius. 

Founded in Vilnius in 2006 as a subsidiary company of Lithuania's Modus Group, Green Genius is a private developer of renewable energy projects across Europe, including solar, biogas, wind, and batteries. It is also an independent power producer. The company is active in Italy, Latvia, Poland, Romania and Spain. To date, it has developed 2.7 GW of renewable energy projects and has completed 549 MW worth of projects.

According to Green Genius, the partnership with the EBRD will allow it to invest more actively in new renewable energy projects. The company plans to use the investment to expand into Europe. It will develop and acquire over 2 GW of renewable energy in the Baltic States, Poland, Romania, and other European markets.

Headquartered in London, the EBRD is an international financial institution that provides project finance to banks, industries, and businesses, with a focus on the private sector. It is owned by 73 countries, the European Union, and the European Investment Bank. The President of the EBRD is Odile Renaud-Basso.

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Fintech Monese merges with UK-based company Pockit

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London-based fintech Monese , founded by Estonian entrepreneur Norris Koppel, has merged with UK-based company Pockit . The deal will see Monese's minority shareholder, Estonian Tera Ventures , take a stake in Pockit. In addition, Pockit and London-based VC Puma Growth Partners will invest £15M in the integration of the two fintech companies. Further financial terms of the deal were not disclosed. 
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