We advised Saules BESS, a Latvian developer of battery energy storage systems (BESS) integrated with solar energy infrastructure, on the structuring and issuance of secured bonds and subordinated bonds to support their business expansion.
About the project
The newly installed BESS units will be co-located with existing solar power plants. This will enable the implementation of hybrid projects that allow more efficient use of existing grid connections and optimise the trading of electricity generated by solar power plants. The total investment in the project implemented by Saules BESS amounts to EUR 26 million, and the project is expected to be fully completed by the end of 2026. Saules BESS is part of the Saules Energy group, owned by Merito Partners Sustainable Energy Fund.
Our services and team
Our team structured the transaction and prepared both the secured bond and subordinated bond documentation, providing end-to-end legal support throughout the issuance process. The mandate included designing the legal structure, drafting and negotiating transaction documents, coordinating regulatory and registration requirements, and supporting the successful completion of the bond offering.
The team was led by partner Ramona Miglāne and included counsels Inese Heinacka and Natālija Grāvele, of counsel Mārtiņš Rudzītis, and assistant lawyers Annija Kuzma and Evija Velvele.
