Investment firm JSC Atsinaujinancios Energetikos Investicijos (AEI) will be spending almost EUR 92 million (USD 100.8m) on solar and wind projects in Lithuania and Poland, a sum the company says it raised in just two years.
Founded in 2020, AEI is a fund managed by Lords LB Asset Management that has already invested a portion of its capital in projects in the two countries. It has an existing partnership with Taaleri SolarWind II, a fund managed by Taaleri Energia, to purchase wind farms under development near Anyksciai, Jonava and Rokiskis, from Denmark’s European Energy, a press release states.
“The global electricity consumption and demand for renewable energy generation continue to grow. It’s a long-term trend that ensures a stable demand for clean energy projects. This characteristic is highly important, because the investment company has a limited maturity term and the projects will be divested at some point in the future as we close the investment company,” commented AEI manager Grete Bukauskaite.
At present, AEI manages 68.1 MW of solar capacity in Lithuania and Poland and co-manages with partners a 185.5-MW wind portfolio in Lithuania.
(EUR 1.0 = USD 1.096)