Atsinaujinančios Energetikos Investicijos Successfully Raises EUR 2 Million

The investment company Atsinaujinančios Energetikos Investicijos (AEI), managed by Lords LB Asset Management, successfully completed the placement of the third tranche of its bond issuance. Slightly more than the planned EUR 2 million was raised, the proceeds will be used to refinance the company’s short-term liabilities. The bond offering was organized by the investment services firm Orion Securities.

Managing assets worth EUR 165 million, the company expanded its portfolio of operational solar and wind parks to 303 MW in April and is consistently executing its strategy to divest all developed and operational projects by the end of 2027.

“Strategic players backed by Western capital have shown strong interest in green energy projects in our region for several years, while AEI bonds have attracted institutional investors. This tranche was also aimed at retail investors. Their interest demonstrates that renewable energy projects are becoming increasingly relevant to the broader public,” says AEI fund manager Mantas Auruškevičius.

More than 90% of the funds were raised from investors in Lithuania.

The bonds are set to mature in 7.5 months, on December 4, 2026.

303 MW of Operational Capacity

In early April, AEI launched a 66.6 MW solar power park in Poland, with eight projects already supplying electricity to the market. This forms part of a larger 114 MW development. Currently operational projects in Lithuania and Poland, totaling 303 MW, account for 56% of the company’s portfolio value (EUR 92 million), while projects under construction make up an additional 30% (EUR 49 million).

One of AEI’s key assets is a 185.5 MW wind farm in Lithuania, in which the company holds a 25% stake. Half of the electricity generated by this park is sold under a 10-year power purchase agreement, enabling clear revenue predictability.

In Poland, AEI manages a 182 MW portfolio of solar parks, of which 117 MW is already operational. As much as 85% of these projects benefit from a state-supported fixed tariff scheme, ensuring stable cash flows regardless of market price fluctuations.

Sales to Finnish and UK Investors

At the end of last year, the company concluded two sale transactions with a combined value of EUR 5.6 million. A 45 MW wind farm under development in Lithuania, together with a 9 MW storage facility, was sold to a Finnish strategic investor, while a 132 MW wind farm under development in Latvia was also divested. All projects currently under development are in the process of being sold, and negotiations are ongoing with potential buyers regarding the sale of operational assets as well.

At the end of 2024, AEI’s 65.5 MW operational solar portfolio in Poland was acquired by an institutional investor from the United Kingdom.

“Investors were driven by both the growing portfolio of operational, revenue-generating assets and the successful transactions completed last year. For retail investors, confidence from large institutional players in the issuer’s strategy is also a key factor,” says Simonas Žirgulis, Head of Projects at the Investment Banking Department of Orion Securities.