Investment & Fund Management
European Investment Fund Partner
Full Credential Description
Tomas Šimanauskas, a former solar engineer in London, returned to Lithuania to establish Saules Graza, which has become a leading electricity company in the country. The company specializes in designing and installing solar power plants, catering to a growing demand for renewable energy as environmental concerns over fossil fuels intensify. With high electricity prices driving interest in solar solutions, Saules Graza faces increased competition and declining prices in the market. However, the potential for growth remains strong due to Lithuania's ample land for solar parks and its robust infrastructure, which facilitates energy production and distribution.
In 2023, Saules Graza experienced a remarkable 40% growth, with similar expectations for the following year. To support this rapid expansion, the company secured an EU-guaranteed loan through SME Bank under the InvestEU programme. This financing strategy allows Tomas to maintain his shareholding while enabling swift decision-making and operational agility within the management team. As the company solidifies its growth trajectory, it is also exploring adjacent sectors such as hydrogen and battery storage, reflecting the fast-paced advancements in energy technology.