Sun Investment Group

What Sun Investment Group does

Sun Investment Group (SIG) is an international solar energy project development group founded in 2017 and headquartered in Vilnius, Lithuania. The company develops utility-scale solar PV projects and commercial & industrial (C&I) Power Purchase Agreement (PPA) projects, with active operations in five European markets: Lithuania, Poland, Spain, Italy, and Germany. SIG reports 200+ MWp constructed since founding and a 3 GW pipeline with over 2,700 MWp under advanced development. Operations are delivered through three wholly-owned subsidiaries: Eternia Solar (EPC construction management), Eternia Services (engineering design, yield assessment, system revamping, construction supervision, and O&M), and Saulės Bendruomenė (Lithuanian distributed solar parks serving B2B and B2C customers).

The company's revenue model is multi-stream: one-time project development fees on land origination through Ready-to-Build (RTB) handover; professional services EPC revenue via Eternia Solar between RTB and Commissioning/Operational Date; recurring subscription-based O&M revenue (24/7 monitoring, maintenance, insurance, guarantees) on operational assets; managed land lease partnerships with landowners (farmers, entrepreneurs, local government); and long-dated PPA electricity sales at fixed index-linked rates over 15-20 year terms to business customers in manufacturing, logistics, retail, real estate, and agriculture. Go-to-market is direct enterprise field sales, with country managers overseeing market-specific business development and a centralized recruitment, procurement, IT, finance, and legal backbone.

SIG funds project development and construction primarily through bank project finance debt, evidenced by a 2024 debt facility from an international debt fund for a 2 GW Polish pipeline (advised by Capcora, Deloitte Legal Poland, TGS Baltic) and a €32.5 million NORD/LB facility in February 2026 for a 59 MWp portfolio of 32 Polish solar farms, supplemented by a 2024 Public Bond Issue. The ownership structure is founder/management-led (CEO Deividas Varabauskas) with no disclosed institutional equity investors, and the company employs 51-100 staff across headquarters and country offices in Vilnius, Gliwice (Poland), Madrid, and Bologna.

Name

Sun Investment Group

Legal name

UAB "Sun Investment Group"

Website

https://suninvestmentgroup.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Sun Investment Group is a Lithuania-based international solar energy project developer building utility-scale PV and C&I PPA projects across five European markets (Lithuania, Poland, Spain, Italy, Germany), with integrated EPC, O&M, and engineering services delivered through subsidiaries Eternia Solar and Eternia Services, serving investors, businesses, and landowners.

Ownership category

akta.pro rank

Product category

Solar Energy Project Development

NAICS

Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industry

Solar PV Power Plant EPC (Utility-Scale) (EUAEAAAG)

Keywords

• Solar project development
• Renewable energy investment
• Solar EPC services
• Power purchase agreements
• Solar operations maintenance

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Project Development: SIG develops solar projects from land preparation to final handover (RTB), handling every stage of project development
2. EPC Construction Management: Eternia Solar, the EPC subsidiary, manages construction from RTB to commissioning and operational date (COD)
3. Operation and Maintenance (O&M): Long-term O&M services including optimization, 24/7 monitoring, maintenance, insurance and guarantees for operational solar plants
4. Land Lease Partnerships: SIG works with landowners to lease land plots or rooftops for solar development, creating long-term revenue streams for property owners
5. Power Purchase Agreements (PPA): SIG funds, plans, develops, constructs and connects solar farms for businesses, charging a fixed, often index-linked rate for electricity over 15-20 year terms

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Sun Investment Group (SIG) is a solar energy project development and investment management company that develops utility-scale photovoltaic projects and commercial & industrial (C&I) Power Purchase Agreement (PPA) projects across European markets. The company handles every stage from land preparation and permitting through EPC construction management via its subsidiary Eternia Solar, to long-term operation and maintenance (O&M). It also offers a Landowner Partnership Program to lease land plots or rooftops for solar development.

Product overview

Sun Investment Group (SIG) operates as an international solar energy project development group with a multi-brand portfolio. The core offering consists of utility-scale solar project development and commercial & industrial (C&I) Power Purchase Agreement solutions, delivered through the company's integrated business model encompassing development, EPC construction management, and operations & maintenance. The group is supported by three subsidiary brands: Eternia Solar (EPC construction), Eternia Services (engineering and O&M), and Saulės Bendruomenė (Lithuanian market solar park development). The company also offers a Landowner Partnership Program for land lease arrangements. SIG's integrated approach covers every stage from site identification and permitting through construction and long-term operation, with 200+ MW already constructed and 3 GW under advanced development.

Differentiator

Problem solved

Functional benefit

Brands

• Eternia Solar: One of the biggest solar engineering, procurement, and construction providers in the Baltics, working with international investors and clients from manufacturing, logistics, retail, real estate, agriculture, and private sectors.
• Eternia Services
• Saulės Bendruomenė

Products and services

• Utility Scale Project Development Full-service development of large-scale solar PV projects from land preparation through final handover (RTB), including site analysis, permitting, grid connection, financing structuring, and project delivery. Targeted at enterprises and investors seeking renewable energy generating capacity.
• C&I PPA Solutions Commercial & Industrial Power Purchase Agreement project development where SIG funds, plans, develops, constructs and connects solar farms for business clients, charging fixed, often index-linked rates for electricity over 15-20 year terms. Designed for businesses seeking stable electricity pricing and sustainability outcomes without capital investment.
• Eternia Solar EPC Services Solar engineering, procurement, and construction (EPC) services overseeing project progression from Ready to Build (RTB) phase to Commissioning and Operational Date (COD). Provides integrated construction management for SIG's in-house projects and EPC services for international investors and business clients from manufacturing, logistics, retail, real estate, agriculture, and private sectors.
• Eternia Services (Engineering & O&M) Comprehensive engineering and operations & maintenance services including design, yield assessment, executive design, as-built documentation, system revamping for yield optimization, construction supervision on behalf of investors, and long-term O&M services for operational solar plants.
• Landowner Partnership Program Operational land lease and partnership program for landowners to lease land plots or rooftops for solar development, generating long-term passive income. Designed for farmers, entrepreneurs, and local government units seeking land monetization, predictable revenue, and diversified land use with SIG bearing all project risk.
• Saulės Bendruomenė Solar Park Services Develops, constructs, and maintains large-scale solar parks across Lithuania, enabling B2B and B2C clients to purchase solar energy remotely from the produced solar generation.

Quantifiable outcome

• 200+ MWp constructed since 2017
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered major, supporting and core.

• CapcoramajorImplementation/ SI/ Consulting PartnerGerman financial advisor Capcora assisted in structuring the debt facility from an international debt fund for SIG's 2GW solar pipeline in Poland, which includes 1970MW of projects across various development stages.
• Deloitte Legal PolandsupportingImplementation/ SI/ Consulting PartnerLegal advisement provided for the debt facility structuring of the 2GW solar pipeline financing.
• TGS BalticsupportingImplementation/ SI/ Consulting PartnerLegal advisement provided for the debt facility structuring of the 2GW solar pipeline financing.
• Eternia SolarcoreStrategic or Co-development PartnerEPC subsidiary of SIG that oversees project progression from Ready to Build (RTB) phase to Commissioning and Operational Date (COD). One of the biggest solar engineering, procurement, and construction providers in the Baltics.
• Eternia ServicescoreStrategic or Co-development PartnerProvides comprehensive engineering services including design, yield assessment, executive design, as-built documentation, system revamping, construction supervision on behalf of investors, and O&M services.
• Saulės BendruomenėcoreStrategic or Co-development PartnerDevelops, constructs, and maintains large-scale solar parks across Lithuania, enabling both B2B and B2C clients to purchase solar energy remotely.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Sonnedix: Global solar IPP with a strong European footprint that develops, finances, and operates utility-scale PV plants. Comparable to SIG in business model and European geographic focus, though at a much larger scale.
• Solaria Energía y Medio Ambiente: Spanish solar developer and IPP with utility-scale PV development across Iberia and Europe. Directly comparable as a European PV developer active in Spain, one of SIG's core markets.
• Encavis AG: European solar and wind IPP listed in Germany, acquiring and operating renewable plants across multiple EU countries. Comparable as a multi-market European solar IPP with project development and O&M capabilities.
• ABO Energy: German renewable energy developer with wind and solar project development across Europe and beyond. Comparable as a multi-country European project developer with similar GTM motion and scale.
• 7C Solarparken: German-listed independent solar power producer operating utility-scale PV plants across Europe. Most directly comparable to SIG in business model (PV generation, IPP) and European footprint, though at a more mature operating scale.
• ib vogt GmbH: Berlin-based solar developer and EPC contractor with utility-scale project development across Europe. Closely comparable to SIG's combination of project development plus EPC services through a dedicated subsidiary.
• Energiekontor AG: German project developer and operator of wind and solar parks with a long European track record. Comparable to SIG's integrated development-to-operation model across multiple European markets.

Broad incumbents

• RWE Renewables: Large European utility with a multi-GW solar and wind development pipeline across Spain, Germany, Italy, and Poland. Represents the scale of competition SIG faces in its target markets.
• Iberdrola Renewables: Global utility with significant solar and wind development across Spain, Germany, and Eastern Europe. Comparable in target geographies (Spain, Germany, Poland) rather than scale, representing SIG's primary competitive backdrop.

Emerging players

• Greenvolt Next (Greenvolt Group): Portugal-based renewable energy group developing utility-scale solar and biomass projects across Europe. Comparable to SIG as a multi-market European solar developer with similar growth-stage profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sunInvestmentgroup
• LinkedInlinkedin.com/company/suninvestmentgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sun Investment Group