Modus Energija, the renewable energy arm of Lithuania’s car business, real estate development and energy group Modus Group, is set to invest 45 million euros in solar power plants in Poland, informs LETA/BNS. Modus Energy has unveiled plans to buy solar power plant projects with a total capacity of around 50 megawatts (MW) in Poland, which would give it a 12 percent market share in the neighboring country.
“This is in line with the company’s strategy to strengthen its position in solar energy,” Modus Energy Chairman Ruslan Sklepovic said in a press release. “We will build and operate what are called solar power farms in that country (Poland),” he said.
Modus Energy is carrying out similar projects in Lithuania, Latvia, Belarus and Spain, where it has set up companies and has installed a dozen solar power plants with a total capacity of over 20 MW. Lithuanian businessman Kestutis Martinkenas owns 100 percent of shares in Modus Group via the Netherlands-registered MG NL Holding.
