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Polenergia (Poland) and Modus Energy (Lithuania) (operating under the Green Genius brand) have agreed about the terms of a joint venture agreement, with the aim to develop offshore wind farm projects in the Lithuanian territory of the Baltic Sea.
Polenergia and Green Genius also agreed on the extension of the exclusivity right of the project to 15 February 2022 for the purpose of completing work on the documents pertaining to the establishment of the JV, while signing the documents and establishment of the JV depends on, among others, procurement of the required corporate consents by Polenergia.