The first month of the Ventus Energy platform has highlighted strong lender interest in opportunities to finance energy sector projects. In September, three projects were open for funding - power plant acquisitions in Daugavpils and Riga, and Solar Park construction in the Kuldiga region.

Achievements

1. Ownership structure changes. In the second half of September, changes were made to the ownership structure of Ventus Energy Group. The new structure specifies that Jānis Timma (CDO) holds 60.01%, Henrijs Jansons (CEO) holds 24.99%, and "VENTUS Employee and Partnerships Stock Options" OÜ holds 15%,

2. The first payments have been made for the acquisition of the Daugavpils and Riga power plants, following the agreed payment schedule,

3. At the Daugavpils power plant, a service company has begun work to start the testing phase of the plant’s engines,

4. The Solar Park project acquisition agreement has been signed, and the first payment has been made according to the contract. The Solar Park project is exceptional for its approved technical plan, which includes an electricity connection to support both - solar panels and battery storage development.

Performance indicators

In October, the next funding rounds for the three active projects will be available, and we are also exploring options of opening a fourth project.