Eternia Solar €4.4 Million Bond Issue Listed on the Nasdaq Baltic First North Market

04.02.2026 VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, 4 February 2026 – Nasdaq (NDAQ) announces that the bonds issued by Eternia Solar have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Vilnius. The company is part of the renewable energy project group Sun Investment Group (SIG).

Through a public bond offering, Eternia Solar raised €4.4 million. Each bond has a nominal value of EUR 1,000 and an annual interest rate of 10%, paid semi-annually. The bond maturity is 1 year, with a redemption date of 23 December 2026.

The company will use the raised funds to finance the second construction phase of a 120 MW solar power plant project in Poland. The bonds will be redeemed using already secured bank financing.

“In 2025, we saw strong use of bond issuances to finance sustainable energy development, and we are pleased to see this trend continuing this year. Investor interest demonstrates confidence both in the project and in the capital market instruments that support the implementation of sustainable energy initiatives in the region,” says Gediminas Varnas, President of Nasdaq Vilnius.

“We are pleased with the strong investor interest during this placement, where demand exceeded supply. The 120 MW solar power plant portfolio currently under construction in Poland has already secured long-term financing from international institutional investors, and the interim bond issue will ensure smooth and efficient progress of construction works. Our long-standing experience in building solar parks in Lithuania, Poland, and Italy, combined with our successful history of issuing and redeeming bonds, the short maturity of this issue, and institutional investor support — all these factors contribute to the project’s attractiveness to investors,” says Deividas Varabauskas, CEO of SIG.

The bonds were distributed by Orion Securities, and legal counsel was provided by TEGOS.

About Eternia Solar 

Operating for more than 10 years, Eternia Solar is one of the leading providers of solar park construction and maintenance services in the Baltic States and Poland, and is part of the international solar development group Sun Investment Group.

The company provides end-to-end solar engineering, procurement, and construction (EPC) services — from design and installation to operation and technical maintenance. It offers equipment from top-tier manufacturers and a wide range of operation and maintenance solutions ensuring long-term performance of solar power plants. The company is currently implementing more than 90 projects (270 MW) across various procurement and construction phases.

Funds raised during the first tranche of the bond issue will be allocated to financing the construction of the 120 MW solar power plant portfolio in Poland. International investors have already assessed and approved the long-term project financing, which will be provided after the construction works are completed and used to redeem the bond issue within 12 months.

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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com