__MAIN_TEXT__
feature-image

Page 1

Business Overview 2019


2

Green Genius

A word from the CEO

2019 was an exceptional record growth year for Green Genius – we grew in terms of team, operations, investments and results. Having set ambitious goals – to be among the biggest renewable energy developers in Europe, last year we’ve expanded our solar and biogas operations into new markets and today are already present in 8 European countries. Also, in order to prepare for further international growth, we have made a strategic decision that all Modus Group’s renewable energy activities will operate under one Green Genius brand starting 2020. Our successful growth was partly based on building long term international partnerships with investors and clients. Among them – leading global asset manager Aberdeen Standard Investments, France-

based investment company Eiffel Investment Group, green infrastructure financing platform RGreen Invest, European Bank for Reconstruction and Development (EBRD) and one of the biggest Polish banks mBank. These partnerships are evidence of trust in our expertise. We also grew our B2B partnerships: back in 2019, we signed a contract with leading European telco company ORANGE Technical Site in Poland, this year we have started a solar-as-aservice partnership with one of the biggest chocolate producers and confectionery companies in the world. It was also a good year for our company Axton Commodities. Established just a few years ago,


3

Business Overview 2019

in 2018, to extend our operations in the fields of power trading, guarantees of origins (GO), European emission allowances (EUA) and Power Purchase Agreement (PPA) market, in 2019 it started electricity trade in Germany. Due to current uncertainties in the markets, many businesses will have to readjust their strategies. At Green Genius we will also have to adapt our ambitious growth plans. The path might be rocky for renewable energy projects development in the short term, but in the long term the demand for green energy in Europe will grow. And Green Genius is ready to be one of the the frontrunners while creating a cleaner environment for future generations.

RUSLAN SKLEPOVIČ, MEMBER OF MODUS GROUP MANAGEMENT BOARD RESPONSIBLE FOR RENEWABLE ENERGY BUSINESS, GREEN GENIUS CEO


4

Green Genius

Map of operations Green Genius is international renewable energy company, developing biogas as well as large-scale and B2B solar projects. The company has accumulated more than 10 years of experience and today is developing renewable energy projects in 8 European markets. Green Genius is a part of the international company Modus Group, mainly focusing on three business areas: renewable energy, mobility services and automotive business.


Italy

Spain

Solar energy

Biogas

Holding company

Romania

Belarus

Lithuania

Poland

Ukraine

Hungary

The Netherlands

Business Overview 2019 5


6

Green Genius

Investments


Business Overview 2019

7


8

Green Genius

Investments

In 2019 Green Genius’ investments grew by 170 percent reaching almost EUR 136 million. The biggest share of investments was allocated to solar energy development in Poland and Ukraine, as well as biogas power plants development in Belarus.

The company had to readjust its ambitious investment and expansion plans due to unclear economic situation raised by COVID-19 pandemic. In 2020, the company plans to invest around EUR 50 million into new renewable energy projects development with the main investment directed to solar and biogas projects development in Poland.


9

Business Overview 2019

2018 2019 2020

EUR 50.34 million EUR 135.7 million EUR 50 million* Lithuania

5%

Italy 5%

Spain 6%

Poland 84%

*Planned investments


10

Green Genius

Solar energy highlights


Business Overview 2019

11


12

Green Genius

Solar energy highlights

01

Robust growth in Poland

In July 2019, Green Genius’ solar parks with a total capacity of 45.4 MW were acquired by Aberdeen Standard Investments. At that moment it was the biggest transaction for solar power parks in Poland. Recently Green Genius has finished construction of the second portfolio with a total capacity of 41 MW in the country and is about to start implementing the third one with a total capacity of 42 MW. Poland remains one of the most attractive markets to develop solar power projects because of its size and the potential for development in the area of renewable energy.


13

Business Overview 2019

150

MW

THE TOTAL CAPACITY OF IMPLEMENTED SOLAR PROJECTS

45.4

>

MW

THE TOTAL CAPACITY OF SOLAR POWER PARKS IN POLAND ACQUIRED BY THE LEADING GLOBAL ASSET MANAGER


14

Green Genius

>

50 OF GREEN ENERGY GENERATED

GWH

>

43 THOUSAND TONNES OF CO2 SAVED


Business Overview 2019

02

Trust from international investors

03

Gaining foothold in Ukraine

15

In 2019, Green Genius and mBank, one of the biggest Polish banks, signed a EUR 10 million loan to finance solar power projects in Poland. To that date it was the largest ticket for similar projects in the country. This year Green Genius signed a EUR 30 million long-term loan with Eiffel Energy Transition fund. The company plans to use these funds to develop and build green energy projects across Europe. Last year, Green Genius implemented their first solar energy project in Ukraine. Over EUR 11 million was invested in the 13.5 MW project. The company recently has also launched another solar park in the country, so far the biggest solar power project implemented by Green Genius. More than EUR 30 million was invested in the project with a capacity of 33.4 MW. The latter project was financed by European Bank for Reconstruction and Development (EBRD). Currently, the solar park portfolio managed by Green Genius in Ukraine amounts to almost 47 MW.


16

Green Genius


Business Overview 2019

04

Supplying business and households with green energy

05

International recognition

17

In 2019, Green Genius signed B2B solar-as-a-service contract with top telco operator ORANGE Technical Site in Poland. Recently, the company has signed a contract with one of the biggest chocolate producers and confectionery companies in the world, and shall start providing solar-as-a-service by the end of this year. Starting from 2020, Green Genius is also providing green energy opportunities for residents of Lithuania by offering them to rent or buy remote solar power plants. All households including those in apartment buildings will be able to generate green and clean energy and benefit from it.

The Embassy of the Republic of Poland to Lithuania awarded Modus Group for its investments in solar energy development in Poland. Moreover, Green Genius received a prize in Italy for sustainable development in 2019.


18

Green Genius

Biogas highlights


Business Overview 2019

19


20

Green Genius

Biogas highlights

01

Advanced technology

New biodegradable materials processing line was integrated into the biogas plant in Lithuania. The investment exceeded EUR 4.5 million. It is the first and one of the most advanced biogas power plants with an integrated biodegradable materials processing line in the Baltic states. The operation of the power plant fully meets the principles of circular economy – as a result of the technological process, both economic and industrial waste are converted into materials used to generate biogas, which can then be used to generate energy and produce fertilisers for the agriculture sector. The power plant processes about 20 thousand tonnes of different biodegradable materials a year.


21

Business Overview 2019

110

>

GREEN ENERGY GENERATED

GWH

120

IN 2019:

THOUSAND TONNES OF CO2 SAVED APPROXIMATELY

20

>

IN ALL MARKETS

MW


22

Green Genius

STARTED BIOGAS ACTIVITIES IN

A PARTNERSHIP WITH

EBRD Poland DEVELOPING PROJECTS IN BELARUS


Business Overview 2019

02

Expansion in Belarus

03

Entering new markets

23

3 new biogas power plants in Belarus started operating last year. Recently, another biogas project was finished. Currently, Green Genius operates 8 biogas power plants in Belarus with a total capacity of 10 MW. Each year they will supply more than 80 GWh of green energy to the country. The company works closely together with the European Bank for Reconstruction and Development (EBRD) while developing green energy projects in Belarus. Last year Green Genius announced that the company will enter Polish biogas market. Poland is already a well-known market for Green Genius as the company has accumulated extensive experience in the solar energy projects there. Polish biogas sector is very attractive as there are not many strong players operating in this sector, whereas the growth potential is high. Therefore, Green Genius has decided to use the experience gained in other countries for the development of biogas projects in Poland. The plan for this year is to implement the first biogas project with a total capacity of 1 MW and lay a foundation for further expansion in the country.


24

Green Genius

Our Footprint on Earth


Business Overview 2019

25


26

Green Genius

Our Footprint on Earth

Renewable energy is a business of the future that creates a greener tomorrow. In our daily operations, we are eager to contribute to the cleaner environment and the well-being of society. Acting in a responsible and sustainable way is a significant part of our culture and identity on every level of organization. We understand that we are only a small piece, creating a positive environmental impact, yet it is also important to appreciate the results reached so far.


Business Overview 2019

27


28

Green Genius

Our Footprint on Earth

Positive impact of renewable energy


Business Overview 2019

29

Last year, our biogas power plants generated more than 110 GWh of green energy, meanwhile solar power plants — more than 50 GWh.

Such an amount of green energy could power an entire town of more than 210 thousand inhabitants for a year and equals to more than 160 thousand tonnes of CO2 saved. That’s approximately the amount that 2.6 million 10-year-old trees could absorb in a year. But there’s more: in biogas plants, using state-of-the-art technology, we process animal and other organic waste that is converted to odourless liquid fertilizer. Last year, we opened a new state-ofthe-art biodegradable materials processing line near Vievis, Lithuania. It is one of the most advanced biogas power plants in the Baltic states. By generating green and clean energy in this and other biogas plants, we contribute to the implementation

of circular economy principles and the ambitious goals set by the European Union. Moreover, we create a positive impact for local communities as we help to reduce odour emitted by landfills and animal farms. ​ e also contribute to the wellW being of communities by making renewable energy more affordable for them. In 2019, by supplying and producing heat from renewable energy sources, we reduced the price of heat for the inhabitants of Vievis by 10-20 percent.


30

Green Genius

Our Footprint on Earth

Uniting our superpowers


31

Business Overview 2019

We believe that making a positive impact requires us to come together and go handin-hand with society and other businesses.

160

THOUSAND TONNES OF CO2 SAVED BECAUSE OF OUR RENEWABLE ENERGY BUSINESSES

IT IS EQUIVALENT TO THE CO2 THAT APPROXIMATELY

2.6

MILLION 10-YEAR-OLD TREES COULD ABSORB IN A YEAR

For this reason, during the year we participated in two hackathons where our experts took roles of mentors and gave a helping hand to the participants while solving complex problems related to global warming. Green Genius’ engineers and business developers shared their experience, knowledge and insights from the renewable energy business. In these events, many bold and creative ideas were brainstormed and have already been started implementing to make a positive environmental impact.


32

Green Genius

Green Genius history 2011 First solar power plant

2015 Successfully listed bonds on the

1993 Modus Group was established

2013 Implementation of first biogas power plant project in Lithuania

Nasdaq Baltic First North Alternative market

2016 Started partnership with

EBRD


33

Business Overview 2019

2020 Renewable energy businesses started operating under single name

2018 B2B solar-as-a-service in Europe

2017 Solar power plants projects in Poland and Spain

Power trading company operating in Nordic and Baltic region Building biogas power plants in Belarus Solar projects in Poland

2019 Solar PV parks transaction with Aberdeen in Poland Biogas activities started in Poland The first implemented solar project in Ukraine

Secured long-term financing from Eiffel Energy Transition fund for renewable energy projects New markets for renewable energy: Romania and Hungary


Launched by

Profile for ModusGroup

Green Genius Business Overview 2019  

Green Genius Business Overview 2019  

Advertisement

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded

Recommendations could not be loaded