UTIB UAB Atsinaujinančios energetikos investicijos begins distribution of 8% green bonds
A closed-end investment company Atsinaujinančios energetikos investicijos (AEI), managed by Lithuanian asset management company UAB Lords LB Asset Management, has begun distributing a public green bond issue worth up to EUR 65 million. AEI aims to borrow through the issued bonds for a term of 2.5 years, offering investors an 8% fixed annual interest rate. The minimum amount that can be invested in these bonds is EUR 100,000.
The bond distribution begins on May 28 and continue until June 11 at 3:30 PM. Both private and institutional investors in Estonia can participate by submitting investment applications through financial brokerage firms or banks (LHV, Swedbank, SEB Bank and others).
Successfully operating projects: from wind farms in Lithuania to solar power plants in Poland
The majority of AEI’s portfolio consists of already operating renewable energy projects that generate a stable revenue stream. In 2024, all operating and partially operating wind and solar power portfolios invested in by AEI together produced more than 509 GWh of electricity and generated EUR 28.7 million in EBITDA.
One of AEI’s largest operating projects is a wind farm portfolio in Lithuania, consisting of 34 wind turbines in the Anykščiai, Jonava, and Rokiškis districts. The total power of the plants is 185.5 MW. Half of this park’s electricity production is secured by a 10-year electricity purchase–sale agreement (PPA), allowing long-term cash flow forecasting. AEI owns 25% of the share capital of this project.
In addition to already operating projects, AEI is also installing two solar power portfolios in Poland, managed through subsidiaries PL-SUN SP. Z O.O. (114.7 MW) and PV Energy Projects SP. Z O.O. (67.8 MW). At the end of 2024, 26.4 MW of capacity had been connected in the PL SUN portfolio, and the remaining part is expected to start operations by the end of this year. Part of the electricity generated by these projects is sold under a fixed tariff scheme (CfD), which ensures protection against fluctuations in electricity market prices,” says Lords LB Asset Management partner and board member Andrius Stonkus.
At the end of 2024, 44.8 MW of capacity in the PV Energy Projects portfolio was connected to the grid, and the remaining part will begin operations by September 2025. The total value of the share capital of these two projects on AEI’s balance sheet exceeds EUR 85 million.
AEI has already successfully completed its first project sale: in December 2024, a 65.5 MW solar power plant portfolio in Poland was sold. This sale reflects both the team’s ability to develop projects and to successfully monetize them. “Since the fund plans to end its operations at the beginning of 2028 and no longer acquires new investment projects, the strategy also includes continuing to consistently realize managed assets, selling a significant part of the operating and under-construction power plants by 2027,” says AEI fund manager Mantas Auruškevičius.
Another significant distinction of AEI is the fund’s sustainability (ESG) positioning
Since 2023, AEI has been classified under SFDR as an “Article 9” fund, which represents the highest sustainability classification in the European Union. Additionally, the green bond issue structure was approved and evaluated by the international ESG rating agency Sustainalytics.
According to A. Stonkus, “our goal is to create long-term value in a sustainable way. A strong ESG foundation, the profitability of operating projects, and the ability to realize renewable energy project portfolios—this is our distinction as an issuer, which we believe will also be appreciated by bond market investors.”
“Considering the growing demand for renewable energy, the maturity of AEI’s projects, and the bond conditions, we believe that this issue should attract strong interest from institutional and private investors,” says Head of investment banking at Orion Securities Mykantas Urba.
How to invest?
Contact the financial brokerage company/bank handling your securities account for the submission of an investment order.
If you do not have an investment services agreement concluded with a financial intermediary, send us an email to: bonds@orion.lt
Join investor call
We invite investors to join the remote bond issue presentation in English, June 4, 2025, at 2 PM. Registration link.
Related documents:
Information Memorandum (EN) | Prospectus (EN) | Final terms (EN)
Orion Securities recommends to consult with your financial advisor and evaluate all the risks associated with the financial instrument and/or other circumstances that are significant to you before making an investment decision.
