Sun Investment Group launches the second stage of its bond issuance: secures long-term financing on favourable terms

The funds are already being used to finance the construction of a 120 MW solar power plant project in Poland, and investments raised during the second stage will also be allocated to this project. The project’s long-term financing has been assessed and approved by international investors. It will be provided after construction works are completed and will be used to redeem the bonds within 12 months.

The bond placement will take place from 19 to 30 January. Interest will be paid semi-annually, and the bond redemption date is 23 December 2026.

The placement is organised and executed by the investment services company Orion Securities.

“Construction of one of our most significant projects portfolio is currently progressing actively. We have successfully deployed the funds raised during the first bond stage: payments for part of the power plant equipment orders have been made, and detailed engineering, preparatory construction site works, and access road works are underway. The progress achieved will allow us in the near future to unlock additional milestone payments from long-term financiers,” says Deividas Varabauskas, Founder and CEO of SIG.

Secured long-term financing on favourable terms

The 120 MW solar power plant project was already assessed last year by the international investors Berenberg and Amiral Gestion. At the beginning of January, as planned, SIG signed an agreement for long-term financing with one of Germany’s largest public-sector banks, Nord LB, on more favorable terms than those offered earlier by Berenberg. The investors carried out a comprehensive financial, technical, and legal due diligence process and approved the project financing, which will be provided in stages following the completion of construction works.

Nord LB actively finances the development of renewable energy projects and infrastructure across Europe. The bank is directly supervised by the European Central Bank and is classified as a systemically important European financial institution.

“Institutional investors participate in projects of this type only after conducting extremely rigorous risk assessments. Their decision to finance the portfolio demonstrates that the project is of high quality, technically well-prepared, and compliant with international standards,” emphasises the head of SIG.

More information about the bond issue

More than 70% of the project’s future revenues during the first 15 years of the solar park’s operation are secured through long-term electricity sales agreements and state support mechanisms. These factors significantly mitigate both development-related and commercial risks associated with the project.

A clear redemption mechanism

In December 2026, after achieving significant construction progress of the power plant portfolio within 12 months from the issuance of the first stage of the bonds, funds from institutional investors intended to settle payments with Eternia Solar for completed construction works will be paid to the project owner. The revenue received by Eternia Solar will be used to redeem the bond issue.

“The source of bond redemption is clearly defined and is not linked to the sale of the project or to future revenues expected to be generated. This is a typical bridge financing case with a specified repayment source, based on the participation of institutional investors in the project after construction is completed.

We observe a trend whereby part of the Baltic capital market participants prioritise short-term fixed-return investments. This was also reflected in the above-expectations results of the first stage of Eternia Solar’s bond issuance, and therefore we believe the bonds will once again attract investor interest,” says Mykantas Urba, Head of Investment Banking at Orion Securities.

One of the region’s leaders

Sun Investment Group is one of the leading solar energy project developers in Central and Eastern Europe. The group operates under a vertically integrated model, from land preparation and permitting to power plant construction, operation, and maintenance. Throughout its operating history, SIG has developed more than 200 MW of operational solar power plants and is currently developing a project portfolio exceeding 3 GW across various European countries, including Poland, Lithuania, and Italy.

“By operating in Poland and other European markets, we contribute to strengthening energy security and the expansion of renewable energy. Our team creates long-term value that is important not only for investors but also for society,” concludes the head of SIG.

Join investor call

We invite investors to join the remote bond issue presentation in English, January 22, 2026, at 11 AM. Registration link.

How to invest?

Contact the financial brokerage firm or bank that manages your securities account to place an investment order (or submit the order through the bank’s online self-service platform).

If you do not have an investment services agreement with a financial intermediary operating in Lithuania, please email us at obligacijos@orion.lt

 

Orion Securities recommends consulting with your financial advisor before making an investment decision and evaluating all risks related to securities (bonds) and/or any other circumstances that may be relevant to you.