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.
The French renewable energy capital company Idex Baltic is the largest independent heat producer in Lithuania. The company owns 5 biofuel boiler houses and 1 cogeneration power plant, which together produce about 10-15% of Lithuania’s heating per year. The biofuel used for the company’s heat production aids in reducing the volume of CO2 pollution and gas imports.
Geco energy company
Geco is our joint venture with Rakauskus Family for investments into clean-tech initiatives.
Idex new nordic
Idex New Nordic is our regional business expansion partnership with the Idex Group.