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UAB “Atsinaujinančios Energetikos Investicijos” publishes its factsheet for the third quarter of 2022

ATSINAUJINANCIOS ENERGETIKOS INVESTICIJOS UAB
ATSINAUJINANCIOS ENERGETIKOS INVESTICIJOS UAB

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 30 September 2022.

FINANCIAL DATA OF THE COMPANY

  • At the end of September 2022, the net asset value (NAV) of UAB “Atsinaujinančios Energetikos Investicijos” including success fee-accrual increased to EUR 91,966,667 compared to the previously determined NAV at the end of June 2022, which amounted to EUR 86,604,778.

  • The share price including success fee-accrual decreased to EUR 1.7579 compared to the previously determined share price which at the end of June 2022, amounted to EUR 1.7596.

  • The pro-forma internal rate of return (IRR) since inception including success fee-accrual decreased to 13.18% compared to the previously announced IRR of June 2022, which amounted to 17.20%.

2022 Q3 KEY EVENTS

  • 4th equity funding round is ongoing, an additional 6.3m EUR of equity has been committed during Q3. An additional 15m EUR of  Green Bonds were issued.

  • Construction of 68.7 MW development portfolio is on schedule. PV modules are being installed in over half of the project sites. Project capacity was decreased by 2.8 MW due to deferred grid connection point readiness dates for 2 projects (these projects were moved to the development portfolio) and 1 project was cancelled due to land plot environmental issues.

  • 20 MW of new ready-to-build projects were acquired. PL-SUN sp. z o.o. solar development portfolio in Poland has been increased from 97.5 MW to 117.8 MW.

  • In October, UAB “Ekoelektra” wind project completed an environmental impact assessment for 100 MW of projects and grid connection conditions were obtained.

SOLAR PV & WIND PROJECTS OVERVIEW

65.5 MW operating solar power projects in Poland:

  • Revenue and EBITDA were respectively 85% and 98% above the forecast due to favourable weather conditions (8% generation increase vs. budget), extraordinarily high electricity prices in August and more electricity being sold on the market rather than the auction support scheme.

Solar development project pipeline in Poland:

  • Construction has been started for 59 MW out of the 68.7 MW portfolio. For 14 projects totalling 39.5 MW solar, modules have either been already installed or will be installed by the end of November. Outstanding projects will begin construction in early November. Construction works for 40.44 MW are expected to be finished by the end of the year, while the remaining projects Q1 and Q2 of 2023.

  • Solar development portfolio in Poland has been increased to 117.8 MW. Tenders for solar modules and inverter providers for the entire portfolio and EPC tender for the first 65 MW are being finalized.

Wind projects in Lithuania:

  • The construction activities of the 185.5 MW have been renewed in August after 5 months of being on hold. In Anykščiai (49.5 MW project) the first wind turbine was energized mid of October, while the park is currently planned to be fully operational in Q1 2023. The replacement of the towers‘ components in Jonava (70 MW)  and Rokiškis (66 MW) wind parks is in process with energization planned in Q1-Q2 2023.

  • In October UAB “Ekoelektra” wind project completed an environmental impact assessment for 100 MW of projects and grid connection conditions were obtained. Grid reservation is planned for Q4 2022, while the RtB stage is planned to be achieved in Q3 2023.

Hybrid projects:

  • 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.

Contact person for further information:

Tomas Milašauskas

Manager of the Investment Company

tomas.milasauskas@lordslb.lt

www.lordslb.lt/AEI_green_bonds

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