Back
We are pleased to present the third Ventus Energy Group monthly report, highlighting our business development initiatives, operational updates across our business units, and key performance metrics.
November was a dynamic month with great progress in several areas, including a significant milestone for the Group - finalizing the acquisition of Riga powerhouse.
INITIATIVES AND ACHIEVEMENTS
Riga Powerhouse
In the final days of November, Ventus Energy signed the acquisition agreement for the Riga Powerhouse, the third-largest powerhouse in Riga, the capital of Latvia. Thus effective December 1st, 2024, Ventus Energy has taken over the powerhouse operations and cash flows.
As part of the powerhouse acquisition, a Senior loan agreement for €7 million was secured with an annual interest rate of 6%.
More information about the Riga powerhouse project and acquisition can be found in our blog.
Daugavpils Powerhouse
In November, the service company continued the powerhouse engine testing phase. It began drafting the final report on the engine and technical equipment condition at the Daugavpils powerhouse (24 MW total output).
As previously informed, preliminary findings state the powerhouse technical equipment condition is better than anticipated.
Solar Park in Kuldiga
Construction work at the Solar park (2.66 MW) is set to resume following the winter break. In the meantime, we plan to move forward with the procurement of the required solar panels in December. This early purchase will ensure timely availability for construction and also allow us to secure a significant discount, contributing to overall project efficiency.
BESS Parks near Jelgava
The first instalment for energy storage batteries acquisition has been successfully made to the manufacturer. The remaining payments are planned for December, which will facilitate a faster equipment delivery.
It will ensure that the project can continue as the active spring season begins. The project completion in time will enable us to fully engage in electricity grid balancing processes as an active player.
Invite your friends & Earn both
Starting November a new feature to reward loyal lenders who help grow the Ventus Energy community was launched. With the INVITE & EARN program, users can now earn additional rewards (1% + 1%) by inviting friends and energy sector supporters to join.
Please find more information about INVITE & EARN in your Ventus Energy client account.
1st Client online meeting
On November 14th, the first client online meeting was held. During the session, the owners of Ventus Energy provided updates on ongoing projects, answered participants’ questions, and encouraged everyone to share suggestions for improvement.
We plan to hold Client meetings quarterly, and everyone is welcome to participate.
Xmas campaign - Be a Greench and take it all! - launched
In the final days of November, we launched our GREENchy Xmas Campaign, running from November 26th to December 31st! This is a great opportunity to earn impressive rewards this holiday season, with bonuses ranging from 5% to 7.5% (50 - 7500 euros). At the same time, this financing will help accelerate Ventus Energy projects, allowing us to secure significant factory discounts and faster equipment delivery. This, in turn, will enable quicker installations and faster revenue generation for our energy infrastructure projects.
More about the Xmas Campaign can be found in the Ventus Energy blog and Client account.
PERFORMANCE INDICATORS
.png)
As we move into the final month of 2024, our focus remains on advancing ongoing projects and securing the financing needed for the opportunities that lie ahead in 2025.
With each month, we build a stronger foundation for sustainable growth and impactful energy solutions. Thank you for being part of this journey, and we look forward to achieving even more together in the upcoming year.