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October results reveal that investor interest in energy sector opportunities has remained strong. During the month, on Ventus Energy platform one new funding project, and five investment rounds, covering power plants in Daugavpils and Riga, a solar panel park in Kuldiga, and BESS Parks in the Jelgava region were launched.
Achievements
Daugavpils Powerhouse
The service company continues the engine testing phase at Daugavpils Powerhouse. Initial reports indicate that the plant's technical condition is better than initially expected. The testing phase is projected to conclude by November 2024.
Riga Powerhouse
The acquisition process for the Riga Powerhouse proceeded faster than anticipated as the full Mezzanine part was raised on the last day of October. Productive communication with the seller’s bank regarding AML-related documents is in process.
Solar Park in Kuldiga
Preparation work is being carried out for the Solar Park project. A payment has been made to AS “Sadales Tīkls” for the power connection project and construction. Additionally, the park construction land works were started in October.
BESS Parks Near Jelgava
Work on the BESS Park project near Jelgava commenced in October. This project includes developing and constructing a 4.84 MW / 9.46 MWh Battery Energy Storage System (BESS) integrated into two operational solar power plants near Jelgava, Latvia's fourth-largest city.
The Team
An experienced AML professional joined the Ventus Energy team. Additionally, the IT team has been reinforced, enabling quicker system upgrades and the rollout of new, user-friendly features for investors on the platform.
Visiting Linklaters and Swiss Broker
On October 14th Ventus Energy owners visited the Linklaters office in Frankfurt, where potential senior investment opportunities with some of Linklaters' top-tier clients were explored.
Linklaters LLP is a leading global law firm headquartered in London, known for its expertise in corporate law, banking, and finance. It provides a full range of legal services across multiple sectors, including mergers and acquisitions, capital markets, litigation, and regulatory matters. As one of the "Magic Circle" firms, Linklaters operates internationally with offices in major financial centers, offering innovative solutions to complex legal challenges.
October 15th, Ventus Energy owners met in Zurich with a Swiss Broker and finalized terms and to-do's for a Senior bond issue for Powerhouse Daugavpils.
Performance indicators in October
