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We are pleased to present Ventus Energy Group's first monthly report of 2025, highlighting our business development initiatives, operational updates, and key performance metrics.
In January, our recently acquired asset, Powerhouse Jugla, continued to deliver stable and strong financial performance. Additionally, we launched a new project - the development of Powerplant Atlasa in Riga - and introduced funding opportunities for businesses, further expanding our strategic growth initiatives.
INITIATIVES AND ACHIEVEMENTS
Powerhouse Jugla
In January, Powerhouse Jugla continued to operate at an optimal level, closing the month with an EBITDA of €372,950.10. Additionally, the first powerhouse modernization project, "10 MW Electrode Boiler Installation," was launched. This project will enhance profitability by reducing production costs and will enable participation in grid balancing, creating potential new revenue streams.
Operational Results
- Electricity produced: 1,745.99 MWh
- Thermal power produced: 6,607.7 MWh
- Natural gas consumption: 4,575.91 MWh
- Wood chips consumption: 4,771.20 MWh
Revenue Overview
- Electricity sales revenue: 249,098.05EUR
- Thermal power sales revenue: 411,056.03 EUR
- Government subsidy for installed capacity: 190,000.00 EUR
Expense Breakdown
- Natural gas expenses: 278,652.78 EUR
- Wood chips expenses: 124,051.20 EUR
- Salaries, maintenance, insurance, etc.: 74,500.00 EUR
EBITDA: 372,950.10 EUR
Powerhouse Daugavpils
The planned 72-hour testing of the Powerhouse Daugavpils in January has been postponed. This delay is due to the seller taking longer than expected to finalize the necessary paperwork to restore the connection with the power distribution system operator, "Sadales Tīkls" AS, and provide the required documentation.
Powerhouse Atlasa
In January, the active development phase of a 38 MW Powerhouse Atlasa in Riga, Latvia was initiated. The 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.
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
In January, the 6th out of 7 financing rounds for BESS Parks Near Jelgava was organized. The goal of the project is to develop and construct a 4.84 MW / 9.46 MWh battery energy storage system (BESS) within two existing solar parks. The BESS is expected to commence operations in the spring of 2025.
Open for companies
Now, not only individual lenders but, also companies can register with Ventus Energy and participate in energy project funding! As of February 1st, nine companies have already completed the registration process.
PERFORMANCE INDICATORS
In conclusion, the first month of the year has demonstrated a stable trajectory in project development, alongside strong interest from lenders. We are looking forward to the spring season, which will be an active period for project development. This will include the acquisition of new energy sector assets as well as the commissioning of funded projects. We are excited about the opportunities ahead and the continued progress in the coming months.