UAB “Renewable Energy Investments” Releases Audited Consolidated and Separate Annual Financial Statements for 2023

UAB “Atsinaujinančios energetikos investicijos” has released its audited annual financial statements for 2023, showcasing impressive growth and success in the renewable energy sector.

The Company’s total assets as of December 31, 2023, amounted to EUR 186,793 thousand, with total equity at EUR 115,300 thousand and total liabilities at EUR 71,493 thousand. The investment assets at fair value through profit or loss saw a significant increase of EUR 35,152 thousand or 24.26% compared to the previous year.

In terms of performance, the Company reported a total comprehensive income of EUR 5,031 thousand for 2023, driven by gains in the investment portfolio. Shareholders’ contributions reached EUR 6,763 thousand, and the issuance of Green bonds totaled EUR 20,382 thousand.

The Company’s renewable energy projects in Poland and Lithuania exceeded expectations in 2023, with revenue and EBITDA surpassing budget projections. The construction of PV solar projects and wind farms is progressing well, with significant capacity expected to be energized in the coming years.

Shareholders will convene on April 30, 2024, to approve the financial statements and discuss profit distribution. The proposed allocation includes profit transfers to reserves and retained earnings, highlighting the Company’s commitment to sustainable growth.

Overall, UAB “Atsinaujinančios energetikos investicijos” continues to make strides in the renewable energy sector, positioning itself as a key player in the transition to sustainable energy sources.