Press releases

Capcora advised Green Genius on securing EUR 30m financing for renewable energy projects in Europe.

Frankfurt am Main, 27.01.2020

Green Genius, a renewable energy company part of Modus Group, has signed a EUR 30 million loan with Eiffel Energy Transition fund. The company plans to use these funds to develop and build green energy projects across Europe. The private placement was accompanied by Capcora, a Germany-based consultancy firm, which acted as financial advisor to Green Genius.

“This transaction is exceptional as the loan was granted not at a single project level but, on a revolving basis, at the level of the European platform owning the portfolio of renewable projects of the group. This evidences the trust of a financial institution such as Eiffel Investment Group in our robustness and our competencies in the development and construction of renewable energy projects,” says Ruslanas Sklepovičius, a member of the board of Modus Group responsible for the renewable energy field and the CEO of Green Genius.

Green Genius has set a goal of ranking among the top 25 renewable energy project developers in Europe over the next five years. At present, Green Genius is developing renewable energy projects in 6 European markets: Lithuania, Poland, Ukraine, Belarus, Spain and Italy. The company is also actively looking for opportunities for expansion in other Central European countries.

In 2019, Green Genius investments in renewable energy activities more than doubled reaching EUR 115 million comparing to 2018. The company plans to continue growing investments in this area. By 2025, total capacity of implemented renewable energy projects by Green Genius is expected to reach 1.5 GW.

“After considering all available offers, we have chosen a partnership with Eiffel Energy Transition for several reasons. It was important for Green Genius to borrow at optimal conditions, to use the proceeds for projects across European markets, and to have a partner who knows the industry very well and can make fast decisions. We have achieved all these goals in the process,” says Rokas Bancevičius, chief financial officer at Green Genius.

“The business of Green Genius is a mixture of developing and selling projects as well as an IPP approach which is not always easy to handle for classical debt providers. However, with a clearly defined strategy for each market and project and a transparent development roadmap for the next few years, we were able attract various interesting offers from a diverse range of international lenders,” explains Alexander Kuhn, managing partner at Capcora.

About Green Genius:

Green Genius is a renewable energy company part of Modus Group. Modus Group is an international group of companies, mainly focusing on renewable energy (Green Genius), mobility services (CityBee), smart parking solutions (Parkdema) and automotive business. The Group manages a network of renowned automotive brand representative offices, including Porsche, Fiat, Bentley, Maserati, etc. The group operates in 9 European markets: Lithuania, Latvia, Estonia, Poland, Ukraine, Belarus, the Netherlands, Spain and Italy.

About Capcora:

Capcora is a consulting firm, specialized on real assets. Capcora procures equity, mezzanine and debt financing for energy and infrastructure projects, real estate, and medium-sized companies. The focus is especially on mezzanine financing for the recapitalization of tied-up liquidity in operating assets as well as for bridge financing of developments and construction measures in the area of renewable energies (photovoltaics, onshore wind) and real estate through alternative financing sources.