Organic electronics is a rapidly developing technology. Typically, the molecules involved in organic electronics are made up of hundreds of atoms, prohibiting a theoretical description by wavefunction-based ab-initio methods. Density-functional and Greens function type of methods scale less steeply with the number of atoms. Therefore, they provide a suitable framework for the theory of such large systems. In this contribution, we describe an implementation, for molecules, of Hedins GW approximation. The latter is the lowest order solution of a set of coupled integral equations for electronic Greens and vertex functions that was found by Lars Hedin half a century ago. Our implementation of Hedins GW approximation has two distinctive features: i) it uses sets of localized functions to describe the spatial dependence of correlation functions, and ii) it uses spectral functions to treat their frequency dependence. Using these features, we were able to achieve a favorable computational complexity of this approximation. In our implementation, the number of operations grows as N^3 with the number of atoms N.