Back
We are pleased to present Ventus Energy Group's monthly report for March 2025, highlighting our business development activities, operational updates, and key performance metrics.
During March, we continued developing our existing energy infrastructure projects and initiated the acquisition of a new asset: a solar park in Valmiera, Latvia.
Investor interest in Ventus Energy projects remained strong, with mezzanine funding volumes surpassing €20 million for the month, demonstrating continued confidence in our portfolio and strategic direction.
INITIATIVES AND ACHIEVEMENTS
Powerhouse Jugla
In March, Powerhouse Jugla continued to deliver a strong performance, closing the month with an EBITDA of €489,547.94 - the best 2024/2025 winter season result.
Operational Results
- Electricity produced: 2,283.8 MWh
- Thermal power produced: 7,191.10 MWh
- Natural gas consumption: 6,240.15 MWh
- Wood chips consumption: 3,625.60 MWh
Revenue Overview
- Electricity sales revenue: €353,898.01
- Thermal power sales revenue: €482,286.37
- Gov. subsidy for installed capacity: €190,000.00
Expense Breakdown
- Natural gas expenses: €338,328.85
- Wood chips expenses: €123,307.60
- O&M, insurance, salaries, etc.: €75,000.00
EBITDA: €489,547.94 (+9% vs. February)
The powerhouse modernization project, 10 MW Electrode Boiler Installation, which was funded in February, progressed as the manufacturer commenced production of the necessary equipment in March.
Powerhouse Atlasa
The first seven funding rounds have been successfully completed, raising €4.2 million. Equipment production is currently underway and progressing according to schedule. The technical design for the powerhouse is in development and is expected to be finalized in April.
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 by the end of 2025, and a 10 MW powerhouse will be commissioned.
Powerhouse Daugavpils
Ongoing communication with the current owners continues as we work toward a constructive solution for moving forward with the acquisition. The next steps - completing the documentation process and conducting the 72-hour test - are currently facing delays compared to the initial schedule. We will provide more updates as we make progress.
Powerhouse Dambis
In March, the full funding required for the powerhouse acquisition was secured, with €3.6 million raised through Mezzanine loans. The acquisition process is now being carried out according to plan.
Powerhouse Dambis is a fully operational 15 MW asset that has been active in the Latvian energy market since 2018, consistently generating stable revenue and profit each year. The total acquisition amount is €6.36 million, with 50% to be financed by a senior lender.
Solar Park in Kuldiga
The production and delivery of the solar panels are progressing in line with the project development timeline. Preparations for the construction site and the development of the necessary infrastructure are planned as the spring season has started and are set to begin shortly. Delivery of the panels remains on track for this period as well.
BESS Parks near Jelgava
The batteries and related equipment required for the construction of the battery energy storage system (BESS) have been delivered, and construction work is currently in progress on-site. Commissioning of the solar park is planned for April.
The project involves developing and installing a 4.84 MW / 9.46 MWh BESS across two existing solar parks. The system is expected to become operational in the spring of 2025.
"Bonuses are in the Air" campaign highlights
Our latest campaign, Bonuses are in the Air, was likely the most successful in the P2P space currently. €7,000,000 was funded during the campaign, with 1,127 participants - representing 57.5% of all active lenders, and 26 lenders surpassed the €50,000 funding threshold. In total, €450,000 was earned in bonuses. Thank you to everyone who contributed to making this campaign a record-breaking success!
PERFORMANCE INDICATORS
In April, Ventus Energy plans to carry out several important initiatives, including opening the Jelgava BESS park, finalising the Powerhouse Dambis acquisition, and introducing Early Exit functionality for selected projects. In addition, new projects are in the pipeline and set to launch soon. Stay tuned and stay with Ventus Energy as we continue to build momentum this spring.