We are pleased to share the Ventus Energy Group’s Monthly Report for May 2025, which highlights our recent business development initiatives, operational progress, and key performance indicators.

Throughout May, we continued to make steady progress in advancing our existing energy infrastructure projects and exploring new directions. Our main initiatives included:

INITIATIVES AND ACHIEVEMENTS

Powerhouse Jugla

As the heating season ended in May, Powerhouse Jugla provided spring-appropriate operating results for the month, concluding it with an EBITDA of €368,292.

Operational Results:

Revenue Overview

Expense Breakdown

EBITDA: €368,292,97

Powerhouse Dambis

The acquisition process of Powerhouse Dambis has been completed, and as a result, starting from May, the operational results of the powerhouse are attributed to Ventus Energy Group.

May marks the last month of operation for this and other powerhouses before the summer break. Active powerhouse operations will resume in the next heating season, starting in mid-September.

BESS Parks near Jelgava

In May, the technical installation work for the BESS (Battery Energy Storage System) was completed in the second part of the solar park (there are two parks under Solar Parks near Jelgava).

Additionally, the park has received permission to start operating in test mode (to buy and sell electricity on the Nordpool exchange) from July. By the end of summer, the solar park is expected to be fully operational and providing grid balancing services.

Powerhouse Atlasa

In May, steady progress was made on implementing Stage 1 of the power plant project. Land plot preparation works have been initiated, and equipment production continued as planned. The first technical equipment units are expected to be delivered on site in June. In parallel, the technical design and land acquisition processes also progressed.

Meanwhile, funding efforts for Stage 2 of the project continued in May. This phase involves the development of additional necessary infrastructure, including the construction of a 10 MW electrode boiler and a 5,000 m³ hot water storage tank.

Solar Park in Kuldiga

The Solar Park in Kuldīga Stage 2 funding round has been fully financed. Stage 2 involves constructing the Battery Energy Storage System (BESS) within the solar park. In May, BESS batteries and other necessary technical equipment were ordered, and payment was made to the manufacturer. It is planned that the equipment will be ready for shipping to Latvia by June.

Since this spring, Latvia has experienced poor weather conditions (increased rainfall), which has delayed the construction of the solar park infrastructure. However, the builder does not plan any deviations from the scheduled timeline.

Wind Park Lithuania

In May, Ventus Energy launched a new direction – wind park acquisition and development. During the past month, the first two funding rounds for the initial wind parks (6 turbines in three separate locations with a total capacity of 2.45 MW) were completed.

Currently, the acquisition of the target company is underway – notarization, transfer of share capital, and other legal procedures.

Powerhouse Daugavpils

The 72-hour test of the powerhouse equipment, which must be conducted before the purchase transaction can be finalised, has been postponed to mid-June.

Currently, work is underway to revise the business plan for the Daugavpils Powerhouse to maximise the effective use of the powerhouse equipment and assets. In the coming months, we will inform lenders about the updated operational plan.

Operational Solar Park Valmiera Acquisition

As the necessary funding for the solar park acquisition was raised, in May, we focused on structuring the transaction with the current owners to ensure a smooth and successful purchase process. This included aligning all key terms and conditions necessary for moving forward.

The asset in focus is a fully operational 2.66 MW solar power plant in the Valmiera district of Latvia. Built and commissioned in 2024, it has been consistently delivering electricity to the grid since its commissioning.

Ventus Energy Group Report 2024/2025

After the first eight months of active operations, we have prepared an overview of Ventus Energy Group’s current operational results and strategic development directions. You can find the full report by clicking here.

INVEST 2025 in Stuttgart

On May 9–10, we participated in INVEST 2025 in Stuttgart, one of Germany’s premier finance and investment trade fairs. We were delighted to showcase our operational results, share our vision, and engage in many great conversations with partners and lenders. A heartfelt thank you to our ambassadors, lenders, and partners who visited us at the Ventus Energy stand and joined the discussion about clean energy investing.

PERFORMANCE INDICATORS

 

 

Looking ahead to the first month of summer, June, we understand that our lenders, along with much of the financial industry, may gradually transition into vacation mode. Nevertheless, we will continue to move forward in line with the Group's strategic directions and several important initiatives already underway. These include the acquisition of a new, fully operational powerhouse, the launch of the Ventus Energy loyalty program, and more. Thank you for being part of this journey. Let’s succeed together!