The European Bank for Reconstruction and Development (EBRD) is seeking to acquire Green Genius International B.V., a company specializing in renewable energy production, among other areas. EBRD operates indirectly in Latvia through shared control over AS 'Eco Baltia', which is active in waste management and environmental services.

Green Genius, part of the MG NL holding company, is involved in renewable energy activities and has expertise in all stages of project development, from permits to energy trading. The company offers solutions in solar, wind, biogas/biomethane, storage, and green hydrogen. While Green Genius has several subsidiaries registered in Latvia, none of their projects in the country are in production yet.

The activities of EBRD and Green Genius in Latvia do not overlap. The Competition Council must make a decision on the merger within one month of receiving the notification, with a possible extension of up to three months for further investigation if needed. Interested parties can submit their opinions on the merger's impact on competition by November 26, 2024, to the Competition Council.