Atsinaujinančios energetikos investicijos Launches 9% Yield Bond Offering

Atsinaujinančios energetikos investicijos (AEI), an investment company managed by Lords LB Asset Management, is launching a EUR 5 million bond offering with a fixed annual interest rate of 9%. Having entered the final stage of its operations, the company, which manages assets worth EUR 165 million across Poland, Lithuania, and Latvia, aims to sell all operating and development projects by the end of 2027. Recently, AEI’s solar and wind parks were acquired by strategic investors from the United Kingdom and Finland.

The bond offering is being organized by the investment services firm Orion Securities. The tranche forms part of a larger EUR 25 million bond programme (ISIN: LT0000137804). Both private and institutional investors across the Baltic states may invest from EUR 1,000 between May 20 and June 5. The bond maturity is 13 months (until July 10, 2027).

“We have been seeing growing interest in our parks from investors in Western Europe, Scandinavia, and Israel for some time already, but this interest is now increasing even further as the dynamics of electricity demand across the continent begin to fundamentally shift. The war in Iran is having the greatest impact on this change. Rising commodity prices and geopolitical instability are accelerating electrification. Experts forecast that electricity demand will increase by 40–50% over the next decade. Under a hyper-electrification scenario, annual growth from 2030 onwards could reach as much as 5%, while Europe may need to invest around EUR 2 trillion into electricity generation over the next decade, three times more than during the previous ten years,” says AEI fund manager Mantas Auruškevičius.

Operational parks in Lithuania and Poland with a combined capacity of 303 MW account for 56% of AEI’s portfolio value (EUR 92 million), while projects currently under construction represent another 30% of managed assets (EUR 49 million).

British and Finnish Investors Acquired AEI Projects

At the end of last year, the company completed two sale transactions with a combined value of EUR 5.6 million: in Lithuania, it sold a 45 MW wind farm under development together with a 9 MW storage facility, while in Latvia it sold a 132 MW wind farm under development. The investment returns reached 18% and 15% respectively. All projects currently under development by the company are now in the sales process, while negotiations are also ongoing regarding the sale of operational projects.

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 park’s electricity generation is sold under a 10-year power purchase agreement, allowing revenues to be forecast with high visibility.

In Poland, AEI manages a 182 MW portfolio of solar parks, of which 117 MW of projects are already operational. Projects accounting for 85% of the portfolio benefit from a state-supported fixed tariff scheme, ensuring stable cash flows regardless of market electricity prices.

“Recent issuances have shown that AEI bonds, which historically attracted stronger institutional investor participation, are increasingly being selected by retail investors as well. This is driven not only by the size of the portfolio or development plans, but also by the share of assets already generating cash flows and the company’s execution of its asset sale strategy. In AEI’s case, the majority of the portfolio consists of operational projects, while completed sale transactions demonstrate market demand for the company’s projects at advanced stages of development,” says Simonas Žirgulis, Head of Corporate Finance at Orion Securities.

The investments raised during the offering will be used to redeem bonds issued under previous tranches.

More information about the bond issue: https://www.orion.lt/en/aei-public-bonds-2026-may/

Investor presentation

Investors are invited to join a remote presentation of the bond issue:

Presentation in English: May 26, 2026, 11:00 AM. Registration.

How to invest?

To invest, leave your contact details in this form and an Orion Securities investment consultant will get in touch with you. You can also invest via the self-service platform or send an email to obligacijos@orion.lt.

If you already hold a securities account with another brokerage firm or bank, you can also submit your investment order through them.

Orion Securities recommends consulting with your financial advisor and evaluating all the risks associated with the financial instrument and/or other circumstances that are significant to you before making an investment decision.

Orion Securities receives a commission for distributing these securities.