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We are pleased to present Ventus Energy Group's second monthly report for 2025, highlighting our business development initiatives, operational updates, and key performance metrics.
In February, our recently acquired asset, Powerhouse Jugla, continued to demonstrate stable and strong financial performance. Additionally, we initiated the funding process for another fully operational energy infrastructure object, Powerhouse Dambis, while advancing the development of Powerhouse Atlasa in Riga.
Another significant milestone in February was the Baltic States disconnecting from the BRELL network and joining the Continental European grid. This transition brings new challenges for grid operators while creating opportunities for companies specialising in grid balancing services. Read more in our blog article.
INITIATIVES AND ACHIEVEMENTS
Powerhouse Jugla
In the last month of winter, Powerhouse Jugla delivered a strong performance, closing the month with an EBITDA of €450,079.25, which is 20.69% higher than in January.
Operational Results
- Electricity produced: 3,231,83 MWh
- Thermal power produced: 6,761,90 MWh
- Natural gas consumption: 8,766,59 MWh
- Wood chips consumption: 3,414,00 MWh
Revenue Overview
- Electricity sales revenue: 572,461,74 EUR
- Thermal power sales revenue: 403,447,19 EUR
- Government subsidy for installed capacity: 190,629,41 EUR
Expense Breakdown
- Natural gas expenses: 552,695,09 EUR
- Wood chips expenses: 88,764,00 EUR
- Salaries, costs and provisions for O&M, insurance, etc.: 75,000.00 EUR
EBITDA: 450,079,25 EUR
The powerhouse modernisation project, "10 MW Electrode Boiler Installation," was funded. The project will enhance profitability by reducing production costs and will enable participation in grid balancing, creating potential new revenue streams. The necessary equipment was ordered in February, and the first payment to the manufacturer - was made.
Powerhouse Atlasa
The first stage of Powerhouse Atlasa development continued. The first five funding rounds have been completed, raising €3 million. In February, an advance payment was made to the equipment manufacturer, and production of the equipment has begun. Additionally, the technical project for the powerhouse is underway, with the first payment made to the developer.
The Powerhouse Atlasa project will be executed in two stages. Stage 1 includes developing the technical project, acquiring land, constructing a 10 MW station, establishing infrastructure for future expansion, and procuring ready-to-buy equipment. Stage 1 is expected to be finished, and a 10 MW powerhouse commissioned by the end of 2025.
Powerhouse Daugavpils
In February, a meeting was held with the current powerhouse owner to find a constructive solution for moving forward with purchasing the power plant. During the meeting, an agreement was reached to complete the prolonged documentation development and approval process by the end of March. Additionally, 72 hours of testing of the Powerhouse Daugavpils is planned for this month.
Powerhouse Dambis
In February, we launched a new funding project to acquire the fully operational asset, 15 MW Powerhouse Dambis. This powerhouse has been active in the Latvian energy market since 2018, consistently delivering stable revenue and profit each year. The total acquisition amount is €6.36 million, with 50% to be funded by a senior lender.
Solar Park in Kuldiga
Solar Park Kuldīga's solar panels are in production, with delivery expected in time for the spring season to begin installation.
BESS Parks near Jelgava
The solar panels for Solar Park Kuldīga are in production, and a prepayment has already been made. Delivery is expected within the spring season. In the coming month, preparations will begin for the construction site and the development of the necessary infrastructure for the solar park.
Statistics section
We have launched the Group's Statistics page, providing key metrics on the Group’s owned energy infrastructure objects’ Production results and Project financing data. The statistics are updated five times daily, ensuring lenders always have access to the latest information. Learn more by clicking HERE.
2nd Client online meeting
On February 18th, the second Ventus Energy Lenders online meeting took place. The latest insights into Ventus Energy's progress and performance were shared during the meeting. A total of 21 questions from lenders were received and addressed.
Campaign “Bonuses are in the air”
In February, alongside the Dambis Powerhouse funding project, we launched the "Bonuses Are in the Air" campaign, offering our lenders instant cashback bonuses of 5% to 8%, depending on funding volumes.
The campaign is still running until mid-March, allowing you to earn bonuses and exclusive benefits while contributing to sustainable growth.
PERFORMANCE INDICATORS
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Following January’s results, February maintained a stable trajectory in project development and has shown strong engagement from lenders.
As we enter the spring season, we are actively advancing multiple projects, including finalising the Powerhouse Dambis acquisition, developing the Powerhouse Atlasa project and commissioning funded projects.