Sunly Secures €65.9M Financing for Massive Polish Solar Projects

• Sunly secures €65.9m financing from mBank to construct 58 solar farms in Poland, adding to its existing operational and under-construction capacity in the Baltics.

Estonian renewable energy developer Sunly has secured €65.9m ($70.9m) in financing from Poland's mBank to construct 58 solar farms with a total capacity of 98 MW in Poland. The financing deal also includes the refinancing of Sunly's previous investments in Poland, including the 60 MW Rzezawa solar park. The majority of the projects will be located in southern Poland. Sunly, which is backed by French fund Mirova and the European Bank for Reconstruction and Development, currently has 164 MW of operational capacity in Estonia, Latvia, and Poland, with an additional 167 MW under construction. The company plans to build solar farms, wind power plants, and battery storage facilities with a total capacity of 4.6 GW in Poland and the Baltics in the coming years.

What is the significance of Sunly's €65.9m financing deal for solar farms in Poland?

• The €65.9m financing deal secured by Sunly for solar farms in Poland is a significant development in the country's renewable energy sector.
• The financing will enable the construction of 58 solar farms with a total capacity of 98 MW, contributing to Poland's renewable energy goals and reducing its reliance on fossil fuels.
• The deal also includes the refinancing of Sunly's previous investments in Poland, including the 60 MW Rzezawa solar park, further strengthening the company's presence in the country.
• The majority of the projects will be located in southern Poland, indicating the region's potential for solar energy generation and its commitment to transitioning to clean energy sources.
• Sunly's partnership with mBank, one of Poland's leading financial institutions, highlights the growing interest and support for renewable energy projects in the country.
• The backing of French fund Mirova and the European Bank for Reconstruction and Development further validates Sunly's credibility and underscores the importance of international collaboration in advancing renewable energy initiatives.
• Sunly's existing operational capacity of 164 MW in Estonia, Latvia, and Poland, along with the additional 167 MW under construction, demonstrates the company's commitment to expanding its renewable energy portfolio in the region.
• The company's plans to build solar farms, wind power plants, and battery storage facilities with a total capacity of 4.6 GW in Poland and the Baltics in the coming years highlight its long-term vision and ambition in the renewable energy sector.
• Sunly's investment in Poland not only contributes to the country's renewable energy targets but also creates job opportunities and stimulates economic growth in the region.
• The financing deal serves as a positive example for other renewable energy developers and investors, showcasing the potential for growth and profitability in the Polish renewable energy market.