The Luminor Bank has announced a EUR 25 million loan to Nala Renewables, which is a global renewable energy investment and development company and has been granted a 45-megawatt (MW) solar power portfolio in Lithuania from Green Genius, which is another energy development company in the country.
Luminor said on Monday that the company has purchased six power plants throughout Lithuania, and under contract, they supply power to nearly 60 local companies.
The bank added that this is its first loan to Nala Renewables.
In late July of this year, Nala Renewables purchased a 34-MW solar power portfolio from Green Genius. The company’s total solar capacity in Lithuania now stands at 79 MW.
Nala Renewables develops solar, wind and battery projects throughout Europe, Latin America and the United States. It manages a total portfolio of 3 gigawatts (GW) of power plants.
Source: BNS
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