We began investing in renewable energy around 2009 as a response to a regional call for independence from Russia’s gas supply and to fight draconic energy bills in the region. Our investments in Geco and later Danpower Baltic contributed to a revolutionary shift in Lithuania’s heating market. The market went from 95% of Lithuania’s heating being supplied by fossil fuels to 95% of the heating supply coming from biomass.
Our joint efforts with the German utility company Enercity and Idex (France) resulted in the lowest household heating bills in the region. Currently, we are pursuing new opportunities with investments into the Idex Baltic and Idex New Nordic enterprises.