AEI Reveals September 2025 NAV and Solar Developments Ahead

Overview of AEI's Financial Standing
As we reflect on the last quarter, the net asset value (NAV) for UAB “Atsinaujinan?ios energetikos investicijos” (AEI) stands at EUR 94,367,121. This figure demonstrates a slight decrease compared to the previous NAV of EUR 96,476,602 noted at the end of June. The share price has seen a dip, now at EUR 1.6088 down from EUR 1.6447 earlier in the year. Highlighting the performance, the pro forma internal rate of return (IRR) has also seen a decrease, resting at 0.84%, compared to 1.50% in June.
Recent Solar Energy Achievements
In this update, significant strides in solar energy projects are worth noting. AEI's divestment of its 2.6 MW solar project through UAB “Saul?s Energijos Projektai” marks a pivotal moment in its asset management strategy. Furthermore, AEI is advancing towards the completion of its 67.8 MW solar portfolio in Poland under PV Energy Projects sp. z o.o. Currently, 49.8 MW of the solar installation is operational, reflecting considerable progress.
Project Highlights
Within the third quarter, AEI successfully energized two additional solar projects, adding approximately 1.9 MW to the operational capacity. Anticipation builds as the remaining projects are on track for timely completion, with commissioning and final testing slated for the upcoming quarters. The entire solar portfolio is expected to reach commercial operation by March 2026, a promising outlook for AEI and its stakeholders.
Further Expansion in Poland
AEI's second solar initiative in Poland, managed by PL SUN sp. z o.o., is also on a positive trajectory with an overall capacity of 114.0 MW configured in two distinct phases. The first phase has shown solid progress, achieving energisation of 26.47 MW in late 2024 and 20 MW in mid-2025. The upcoming quarter looks encouraging as the final 20.2 MW of this phase nears energisation.
The second phase, introducing 47.4 MW, kicked off construction in late 2024 and reached mechanical completion by October 2025. Preparations for grid connections at seven project sites are underway, establishing solid grounds for future energy contributions.
Advancements in Wind Projects
Shifting the focus to wind energy, AEI's 112 MW wind farm in Latvia, under SIA Zala Elektriba, is currently under construction. All associated contracts are finalized, and long-term financing is expected to materialize by the end of the year. The project's energisation is projected for the first quarter of 2027, a strategic move in AEI's portfolio diversification.
Performance and Challenges
Additionally, the notable 185.5 MW wind portfolio of UAB “Žaliosios investicijos,” where AEI holds a 25% interest, continues to operate smoothly. Nevertheless, recent arbitration proceedings regarding the acquisition price have emerged, focusing on pricing calculations. While the final outcome is pending, AEI currently estimates minimal impact on its financial outlook.
Hybrid Energy Projects Developments
In the evolving sector of hybrid projects, both UAB “Pakruojo v?jas” (45 MW wind) and UAB “Ekoelektra” (70 MW solar and 100 MW wind) are finalizing procurement processes. Progress is being observed with the Wind Turbine Generator (WTG) and Balance of Plant (BoP) tenders nearing completion.
Future Prospects
Further developments are underway in the UAB “JTPG” portfolio in Lithuania, which is working towards enhancing its capacity by adding 69 MW through wind. The solar aspect of this hybrid scheme is also advancing well, with the securing of additional land and preparation for solar module designs now finalized. As the project proposals inch towards completion, AEI is committed to maintaining its trajectory of growth.
For further inquiries, please reach out to:
Mantas Auruškevi?ius
Manager of the Investment Company
Contact: mantas.auruskevicius@lordslb.lt
Frequently Asked Questions
What is AEI's latest net asset value?
The latest NAV for AEI is EUR 94,367,121 as of September 2025.
What projects are currently operational under AEI?
AEI has several solar projects operational in Poland with a total capacity nearing 67.8 MW.
How is AEI expanding its wind energy portfolio?
AEI's wind projects include a 112 MW facility in Latvia and a 185.5 MW portfolio in which they hold a 25% stake.
What hybrid projects is AEI involved in?
AEI is developing hybrid projects like UAB “Pakruojo v?jas” and UAB “Ekoelektra,” combining both solar and wind energy sources.
Who can I contact for more information about AEI?
You can contact Mantas Auruškevi?ius, the Manager of the Investment Company, via email.
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