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Sun Investment Group raised financing of 3.3 million EUR in the form of short-term bonds

Investment banking company “Orion Securities” has completed the private placement of short-term bonds for a subsidiary of Sun Investment Group. During this bond issuance, the company borrowed 3.3 million EUR. The planned maturity date is 15 months from the issue date, with an op early redemption option and an annual interest rate of 12%.

The raised funds will be used to finance the construction of two 4.6 MW remote solar parks in Lithuania.

Investor interest in the renewable energy sector remains high, impacted by the regional focus on increasing energy independence and the European Union’s Green Deal goals.

The reputation and experience of Sun Investment Group in developing and selling solar energy projects were among the key investment factors. The group of companies is not only one of the leaders in this sector in Lithuania but also a significant and recognized European player, covering the entire development cycle of solar power plants from site preparation to construction and maintenance.

“Naturally, investors sought to evaluate both the remote solar parks’ development and commercial (realization) risks. However, considering the advanced stage of the financed projects, existing construction contracts, and a clear sales plan, investors assessed the risks as manageable and the investment opportunity as attractive,” said Mykantas Urba, Head of Corporate Finance at “Orion Securities.

Mykantas Urba | Orion | Head of corporate finance

“Finally, additional security for investors is provided by the primary pledge of the developed parks, which includes all the equipment of the solar power plants, the developer’s invested capital up to this point, and the amounts received from project sales. This significantly reduces the risk profile of the issuance,” added M. Urba.

Aidas Ignatavičius, Regional Manager of Sun Investment Group in Lithuania, states that the raised financing will allow the implementation of remote solar parks to be more flexible.

Aidas Ignatavičius, Regional Manager of Sun Investment Group in Lithuania

“Working in different European countries, we see that Lithuania remains a promising market for investors. It was also confirmed by the considerable interest we received when starting the financing process. So far, we have successfully implemented and sold four remote solar parks in Lithuania, and the raised funds will help us continue to develop projects smoothly,” says A. Ignatavičius.

More information:

Sun Investment Group raised financing of 3.3 million EUR in the form of short-term bonds

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Marija Kisieliūtė
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Mykantas Urba | Head of corporate finance