Renewable energy project developer Green Genius has completed a €65 million (~$72.5 million) green bond issue to refinance existing subordinated construction loans.

The bonds have a four-year maturity and carry a floating interest rate based on the three-month Euro Interbank Offered Rate (EURIBOR) plus 8% annually. They are expected to be admitted to trading on the Sustainable Bond List of Nasdaq Stockholm.

Green Genius said the transaction attracted demand from international institutional investors, with bonds allocated to investors across the Nordic and Baltic regions, the United Kingdom, the U.S., and other markets.

“We are consistently executing our strategic goal of building an operational portfolio of more than 1 GW by 2030. This bond issue allows us to simplify the group’s capital structure and enhance our financial flexibility for further growth. This is particularly important today as we develop an increasingly diversified portfolio spanning solar, wind, biomethane, and battery energy storage solutions across our core markets,” says Ruslan Sklepovič, CEO at Green Genius.

The bonds were issued under the company’s 2026 Green Genius Green Financing Framework, which is aligned with the International Capital Market Association Green Bond Principles. Moody’s Ratings provided a Second Party Opinion on the financing framework and assigned it a Sustainability Quality Score of SQS2, or “Very Good.”

Currently, Green Genius operates 595 MW of solar, wind, and battery storage assets and produces 108 GWh of biomethane annually. The company has an additional 224 MW of solar and battery storage projects in the final stages of construction, with grid connection scheduled in the coming months. Its development pipeline across all markets totals 3.1 GW.

Nordic Investment Bank DNB Carnegie acted as the sole bookrunner for the bond issue, while Luminor AS acted as placement agent in the Baltics. Mannheimer Swartling served as legal counsel on Swedish law matters, Sorainen advised on Lithuanian law, and Stibbe acted as legal counsel in the Netherlands.

In 2025, the company had secured a €25.3 million (~$29.9 million) financing for the construction and development of a 196 MWh battery energy storage project in Antkalniškiai village, Jurbarkas district, Lithuania, and up to €64 million (~$75 million) with the Nordic Investment Bank (NIB) and NORD/LB for the development of two solar projects totaling 182 MW also in Lithuania.

Announced debt financing for the solar sector reached $20.4 billion across 80 deals, a 61% increase from 9M 2025, when $12.7 billion was raised in 60 deals, according to Mercom’s recently released 9M and Q3 2026 Solar Funding and M&A report.