VILNIUS, Oct. 3 (Xinhua) -- Lithuania's Green Genius, a renewable energy company owned by Modus Group, is set to receive an equity investment of up to 100 million euros ( 110 million U.S. dollars) from the European Bank for Reconstruction and Development (EBRD).
The company said this is the EBRD's largest investment of its kind in the Baltic countries, according to the Baltic News Service (BNS).
"Following the transaction, which is subject to the approval of competition authorities in several countries, the EBRD will become a minority shareholder in Green Genius and commits to invest up to 100 million euros in the company," Modus Group said in a statement on Thursday.
"These funds will be used to develop and acquire new renewable energy projects in the Baltic states, Poland, Romania and other European markets," it added. ■
