Nala Renewables further expands into Central and Eastern Europe

London, 29 July 2024 – Nala Renewables (Nala), a global power and renewable energy investment and development platform, announces that it has acquired a 34MWp 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 45MWp of PV projects in the near-term that are expected to increase the total size of the portfolio to 79MWp. 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 96,000MWh of clean energy per year from the full 79MWp portfolio, representing the energy use of around 9,500 households, as well as saving approximately 20,000 tonnes of CO2 equivalent emissions per year.* 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,” said Rokas Bancevičius, CFO of Green Genius.

ENDS

* Calculated using UNFCCC IFI Default Grid Factors.

‍

For further information, please contact:

Nala Renewables Press Office
Tel: +41 (0) 22 592 4528
Email: media@nalarenewables.com

About Nala Renewables:

Nala Renewables is a global power and renewable energy platform and an independent power producer focused on solar, wind and battery storage projects in Europe, Latin America and the United States. Nala is a 50/50 joint venture between Trafigura, one of the world’s leading independent commodity trading companies, and funds managed by IFM Investors.

Founded in 2020, Nala Renewables has grown its operational, in-construction and development portfolio of renewable energy projects to around 3GW of cumulative capacity. The vision is to more than double the size of this portfolio to 10GW by 2030 and to continue to develop, build, operate and invest in solar, onshore wind and battery storage projects across the globe.

Visit: www.nalarenewables.com