Poland based solar PV company Green Genius plans to invest over €100 million ($120 million) to install new solar power plants with a combined capacity of 154 MW in Poland in the near future. The company is part of Lithuania based Modus Group of companies (see Modus Group To Build 41 MW PV In Poland).
Having already installed 86 MW solar power plant capacity in Poland, currently Green Genius is constructing 43 MW of solar power capacity it won in 2019 auctions. In the November 2020 and December 2020 auctions, it claims to have secured 79 MW capacity out of which it will install 2 solar power plants of 8 MW and 63 MW plants of 1 MW capacity across the country. Total investment in all planned and already-implemented projects amounts to over €100 million.
The company said by mid-2022 the cumulative installed capacity of solar power projects in its portfolio will reach 242 MW, accounting for about 4.5% of all solar power capacity in Poland.
"We plan to implement not only the projects won at auctions, but also to offer an innovative idea: to develop solar power parks under market conditions and to sell electricity to businesses or the power exchange. Many large companies operating in Poland are already interested in the possibility of buying green energy from such parks. We intend to pay more and more attention to this area," said Green Genius CEO, Ruslan Sklepovič.
Recently, the country's Council of Ministers approved PEP2040 (also referred to as EPP2040) inking the energy policy of Poland until 2040 targeting close to 5 Gw to 7 GW of solar PV installed capacity by 2030, and scaling it up to 10 GW to 16 GW in 2040. However since the roadmap continues with coal and introduces nuclear energy to the national energy mix, Greenpeace Poland criticized it saying it does not bring in revolutionary changes needed for the energy sector (see Poland Approves Energy Policy Until 2040).