Vindo Solar Secures €5 Million in Senior Secured Bonds to Accelerate European Expansion

Vindo Solar, a Dutch family-owned company specializing in the development and installation of solar energy projects, has successfully raised €5 million in financing through the issuance of senior secured bonds. Structured across three tranches, this funding will enable the company to advance its 56 MW project pipeline in Lithuania and further expand operations across Europe.

Strong Partnership with Zonhub

Commenting on the collaboration, Mindaugas Jarusevicius of Vindo Solar said:
“Working with Zonhub felt like being part of the same team. We appreciated the swift and well-structured solutions – it’s inspiring to drive forward towards a CO₂-free future together with like-minded partners.”

About Vindo Solar

Founded in 2016 when entrepreneur Mindaugas Jarusevicius took ownership, Vindo Solar has delivered over 80 solar projects across Europe with a combined capacity of 300 MW. Active in the Netherlands, Belgium, Germany, Ireland, Italy, Poland, and Lithuania, the company provides end-to-end services including engineering, procurement, installation, and maintenance of both ground-mounted and rooftop solar systems.
Prestigious clients include Vattenfall and Obton, underlining Vindo Solar’s reputation as a trusted partner in the European renewable energy market.

Bond Structure & Investor Safeguards

The bonds have a 3-year term and offer a fixed annual interest rate of 8%. Investors benefit from a robust package of security, including:

• Consolidated operating performance: In 2022, Vindo Solar BV, Vindo Solar Installaties BV, and UAB Vindo Solar Lietuva achieved a combined €8.7 million in revenue and €362,403 in EBITDA.
• Operational solar project: A 4 MW solar park in Trakai, Lithuania, generating an annual free cash flow of €460,000 with a current valuation of €5.1 million.
• Project pipeline: Active development of 56 MW of new solar projects, with the intention to partially divest project rights within three years.

Together, these securities represent a total value of €8.4 million, providing strong downside protection and significantly reducing investor risk. To date, 1,324 individual investments have contributed nearly the full €5 million target.

Strategic Use of Funds

The proceeds will be allocated to:

• Advancing development of the 56 MW Lithuanian project pipeline
• Refinancing existing loans on improved terms
• Strengthening working capital to support a rapidly growing portfolio of installation contracts across Europe

This financing positions Vindo Solar to play an even greater role in the European energy transition, scaling up sustainable energy solutions and accelerating the continent’s shift to clean power.

Interested in financing opportunities for renewable energy projects?
Discover what’s possible at Zonhub Financing.