Solar Energy

Sunly Secures €300 Million Investment to Boost Renewable Energy in Baltics and Poland

Sunly, a leading renewable energy company, has raised €300 million from key European investors to expand its renewable energy capacity across the Baltics and Poland. The funds will be used to develop 1.3 gigawatts (GW) of solar, wind, storage, and hybrid parks, supporting the ambitious renewable energy goals of Estonia, Latvia, Lithuania, and Poland for 2030.

The investment was led by Rivage Investment, via a climate-focused fund in France, Copenhagen Infrastructure Partners (CIP), through the Green Credit I fund, and the Norwegian pension fund KLP. Gaétane Tracz of Rivage expressed strong support for Sunly’s mission, emphasizing the alignment with the EU's energy security and ESG objectives.

Sunly’s CEO, Priit Lepasepp, highlighted the importance of the funding in advancing regional renewable energy initiatives. A key project under this initiative includes the 244 MW solar park in Risti, Estonia, with future expansions planned. Additional projects involve four solar parks in Latvia totaling 553 MW, along with hybrid solar farms in Lithuania and Poland.

Estonia’s Climate Minister, Yoko Alender, reaffirmed the nation’s commitment to achieving 100% renewable electricity by 2030, emphasizing the economic and environmental benefits. The collaboration with CIP and KLP marks a significant step in Sunly’s goal to develop 4.6 GW of solar and wind farms in the region by 2030, aligning with global sustainability goals.

Source: ESG News

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