UAB “Atsinaujinančios Energetikos Investicijos” publishes its factsheet for the fourth quarter of 2022
UAB “Atsinaujinančios Energetikos Investicijos” (the Company) publishes its factsheet, providing information about the Company’s investment portfolio, key events, business strategy, operating segments, and financial indicators as of 31 December 2022.
FINANCIAL DATA OF THE COMPANY
At the end of December 2022, the net asset value (NAV) of UAB “Atsinaujinančios Energetikos Investicijos” including success fee-accrual increased to EUR 103,538,262 compared to the previously determined NAV at the end of September 2022, which amounted to EUR 91,966,667.
The share price including success fee-accrual increased to EUR 1.8865 compared to the previously determined share price which at the end of September 2022, amounted to EUR 1.7579.
The pro-forma internal rate of return (IRR) since inception including success fee-accrual increased to 16.51% compared to the previously announced IRR of September 2022, which amounted to 13.18%.
2022 Q4 KEY EVENTS
5th equity funding round is ongoing, additional 4.6 mEUR of equity has been committed during Q4. Additional 12 mEUR of Green Bonds have been issued during the same period.
Construction of 67.8 MW solar PV portfolio is on schedule. A total of 46 MW of PV modules have been installed across 24 project sites. Construction has been finished in 7 projects which will be ready for energization by the end of February 2023.
18.4 MW of new ready to build projects were acquired in December 2022. PL-SUN solar development portfolio in Poland has been increased from 97.5 MW to 117.5 MW.
5 WTG‘s (33 MW in total) in Anykščiai wind park have been energized and started producing electricity during Q4 2022.
A LOI to acquire a 66 MW wind park development project in Latvia has been signed.
SOLAR PV & WIND PROJECTS OVERVIEW
65.5 MW operating solar power projects in Poland:
Exceptional results during 2022. Revenue was higher by 55% and EBITDA by 72% compared to the budget. The results were driven by favorable weather conditions and high electricity prices.
Solar development project pipeline in Poland:
Construction has been started for all projects in the 67.8 MW portfolio. For 24 projects totaling 46 MW solar modules were installed, 2 additional MW will be installed by the end of January. For other outstanding projects modules will be installed by the end of March. Construction works for 21.8 MW are expected to be finished by the end of Q2 2023 latest.
Solar development portfolio in Poland increased to 117.5 MW. Contract with the solar modules and inverter providers for the entire portfolio were signed. BoS tender for the first 65 MW is being finalized and will be signed by mid-February.
Wind projects in Lithuania:
The construction activities of the 185.5 MW have been ongoing in Anykščiai (49.5 MW project) whereas six wind turbines were installed in Q4, while the park is currently planned to be fully operational in Q1 2023. The construction of Jonava (70 MW) and Rokiškis (66 MW) wind parks is in the process with energization planned in Q1-Q2 2023.
LOI for a 66 MW wind park under development acquisition in Latvia has been signed.
Cooperation and land lease agreement has been signed with major landowner with potential to develop 150 MW wind park in Lithuania.
The issuance of the development permits for the hybrid projects has been on hold due to ongoing legislation changes of solar PV and hybrid projects development in Lithuania. Situation has remained unchanged with no major developments.
Contact person for further information:
Manager of the Investment Company