The investment management company Evernord FM\u012e has issued \u20ac2.8 million worth of bonds for the energy company Pure Energy Solutions. The capital raised from investors will be used to finance the design, technology supply, construction, and commissioning of a Battery Energy Storage System (BESS) in Rietavas.<\/p>\n
The bonds have a maturity of 2 years and an annual interest rate of 9 percent. The redemption date is December 2, 2027. The bonds are secured by a second mortgage on the project.<\/p>\n
The total capital requirement for the project in Rietavas amounts to 29.2 million euros, making it one of the most significant grid balancing infrastructure projects in Lithuania. The BESS system will store excess electricity when demand is low and feed it back into the grid during peak demand, thereby stabilizing the power system, reducing fluctuations, and increasing grid reliability and resilience.<\/p>\n
\u201cLithuania is rapidly expanding its renewable energy resources, so projects like BESS contribute to a stronger and more sustainable future for the Lithuanian energy market. Pure Energy Solutions\u2019 financial metrics demonstrate the project\u2019s solid economic foundation and efficient cost structure. We believe this is a good opportunity for investors to diversify their investment portfolios,\u201d notes Vismant\u0117 \u0160epetien\u0117, head of the financial investment firm \u201cEvernord.\u201d<\/p>\n
UAB \u201cPure Energy Solutions\u201d is a special purpose vehicle (SPV) established in 2024.<\/p>\n
\u201cEnergy storage systems are becoming a cornerstone of Europe\u2019s energy transition. The Rietavas BESS project is one of the most important steps in our portfolio toward building long-term clean energy infrastructure in Lithuania. ZAKARAS HOLDING\u2019s ongoing strategy is to create a reliable and transparent capital platform that would attract institutional investors in the region and enable the implementation of even larger projects. \u201cWe are pleased that investors have placed their trust in the project, and the hard work and expertise of the Evernord team have contributed significantly to this,\u201d notes Mindaugas Zakaras, CEO of ZAKARAS HOLDING.<\/p>\n
Pure Energy Solutions signed a contract for the implementation of the BESS project with the EPC (Engineering, Procurement, and Construction) company MT Group, which has many years of experience in implementing high-priority energy transition projects.<\/p>\n
The project is scheduled for completion in the fourth quarter of 2026.<\/p>\n
https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7403799115643400192<\/p>\n","protected":false},"excerpt":{"rendered":"
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