Following a scheduled review, the international rating agency Moody’s Ratings has affirmed the Baa1 credit rating of new energy group EPSO-G with a stable outlook. The rating reflects the Group’s strong financial position, balanced debt profile, diversified revenue streams, and ability to secure long-term financing for strategic projects.
“The reaffirmed Baa1 investment-grade credit rating is an important recognition of the Group’s financial stability and its ability to deliver long-term strategic projects. One of the most significant steps taken in recent years has been the consolidation of project financing for the Group’s companies at the parent company level. This enables more effective investment planning, greater diversification of funding sources, and increased financial flexibility. This is particularly important at a time when the Group is making significant investments in Lithuania’s energy networks while also implementing regional electricity infrastructure projects with Poland, Latvia and Germany. In parallel, we are contributing to the development of the Nordic-Baltic Hydrogen Corridor, expanding our involvement in the defense industry, and placing greater emphasis on strengthening the resilience of energy infrastructure,” says Mindaugas Keizeris, CEO of EPSO-G.
According to Keizeris, the Group is actively involved in regional and international energy infrastructure projects. These include the implementation of the Harmony Link electricity interconnection with Poland, the strengthening of interconnections with Latvia, the development of the Baltic-German PowerLink offshore interconnection linking the Baltic States with Germany, the Nordic-Baltic Hydrogen Corridor, and other strategic initiatives that contribute to the region’s energy security and competitiveness.
“We are also increasing our involvement in the defense industry and placing an ever-greater priority on investments that enhance the resilience of the infrastructure managed by the Group. Last year, through targeted investments, we entered a new area of activity by directing part of our investment portfolio towards the defense industry, thereby strengthening the role of the energy sector in supporting national security,” says Keizeris.
Today, the Group’s activities extend beyond strategic energy projects. Leveraging its expertise in infrastructure development and strong operational performance, EPSO-G is actively contributing to the expansion of the defense industry. EPSO-G Invest, a company within the Group, together with German defense technology company Rheinmetall and the Giraitės ginkluotės gamykla, is developing a 155 mm artillery ammunition plant project in Baisogala and is also engaged in discussions with other defense industry companies.
The EPSO-G Group’s investments in security, reliability and expansion of energy infrastructure amounted to €211.1 million in 2025. In 2026, the Group plans to invest approximately €200 million. The majority of these investments will be directed towards strengthening the reliability of the electricity transmission system, expanding network capacity, increasing the resilience of energy infrastructure, and implementing regional interconnection projects.
EPSO-G group of companies consists of the holding company EPSO-G and its five direct subsidiaries Amber Grid, Baltpool, Energy Cells, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in Rheinmetall Defence Lietuva, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are exercised by the Ministry of Energy of the Republic of Lithuania.