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fall within the scope of the fund include Bulgaria, Croatia, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Montenegro, Poland, Romania, Serbia,

tasks. For example, Luxemburg has signed contracts with both Lithuania and Estonia where excess electrical power created in the latter two countries will

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.

of power created by solar PV during the summer top this year, consisting of Estonia, Germany, Hungary, Lithuania, the Netherlands, Poland, Portugal and

wind farms in Lithuania; its 2 various other wind farms remain in Poland and Estonia. New wind farm projects are also being developed in Latvia, Lithuania and

ability, consisting of wind, solar, co-generation and hydropower plants in Estonia, Lithuania, Latvia and Poland. In addition, it has 81 MW of installed heat

Estonia-based renewable energy developer Sunly has successfully raised EUR 60 million (USD 63 million) in equity funding from existing investors, including the European Bank for Reconstruction and Development (EBRD), Mirova, and Vardar. This funding follows a previous debt financing round where Sunly secured EUR 300 million in August, bringing its total fundraising efforts to EUR 825 million in debt and equity.The new capital will facilitate the development of hybrid energy parks in the Baltics, notably the 244-MW Risti solar park in Estonia, which plans to incorporate battery storage. Additionally, three solar parks totaling 225 MW are currently under construction in Latvia, with plans for a fourth, 328-MW park to commence next year. The EBRD emphasized its commitment to advancing the region's clean energy initiatives and supporting cross-border collaborations. How will Sunly's new funding impact renewable energy development in the Baltics? Here are some key points outlining how Sunly's new funding will impact renewable energy development in the Baltics: Increased Capacity: The new EUR 60 million funding will directly support the expansion of renewable energy installations across the Baltics, particularly in solar energy projects that will significantly boost the region's energy capacity. Hybrid Energy Solutions: Sunly's focus on developing hybrid energy parks, like the 244-MW Risti solar park with integrated battery storage, will enhance energy reliability and flexibility, addressing intermittency issues often associated with renewable sources like solar. Accelerated Project Timelines: With additional funding, the construction and operational timelines for projects, including the three solar parks in Latvia and the upcoming 328-MW park, can be expedited, allowing for quicker integration into the energy grid. Job Creation: The expansion of renewable energy facilities will likely generate local employment opportunities, ranging from construction jobs to long-term positions in operation and maintenance, thus having a positive economic impact on local communities. Attracting Further Investments: Successful fundraising efforts can enhance Sunly’s credibility and attractiveness to other potential investors, leading to increased investment in clean energy projects in the region. Technological Innovation: The incorporation of advanced technologies, such as energy storage systems in solar parks, is expected to foster innovation and development in the renewable sector, setting a benchmark for future projects. Cross-Border Collaboration: The EBRD's involvement will promote partnerships between Baltic countries and other European nations, leading to collaborative efforts in developing and sharing renewable energy technologies and best practices. Policy Influence: As Sunly embarks on massive renewable projects, it can influence regional energy policies to support more sustainable practices, potentially leading to stronger regulatory frameworks for renewable energy. Environmental Benefits: By increasing the share of renewables in the Baltic energy mix, Sunly's projects will contribute to significant reductions in greenhouse gas emissions, aligning with global climate change mitigation goals. Energy Security: The growth of the renewable energy sector will enhance energy independence in the Baltics, reducing reliance on fossil fuels and increasing resilience against global energy market fluctuations. Public Awareness and Support: As more renewable projects are implemented, public awareness and acceptance of clean energy initiatives are likely to grow, fostering a culture that supports sustainability and environmental stewardship in the region. Together, these factors illustrate how Sunly's recent funding round will catalyze positive changes in energy development, job creation, and environmental sustainability across the Baltics.

Renewable resource manufacturer Enefit Green AS (TAL: EGR1T) revealed today it has actually taken the last financial investment decision (FID) on the 74-MW Sopi solar project at home in Estonia, with strategies to commission the facility in 2025.

that all would certainly reach their solar objectives by 2030 or earlier. Estonia and also Latvia have really satisfied their targets, and also Poland, Ireland,

Bank AS from Estonia is providing financing for a 19-MW solar photovoltaic park in Latvia, to be constructed by Merito Partners. The bank will co-finance the

mono-grain layer tech is implemented by Crystalsol (Austria- and Estonia-based joint venture). For scaling the technology to commercial level, the cell

Metsa are set to begin construction on a 244-MW solar project in northwestern Estonia, making it the largest solar park in the Baltics. The project, known as the

by 2025-26. This means maybe completed in time for the Baltic area including Estonia's planned connection to the continental power system-- and also concurrent

and Technology, along with partners from Tallinn University of Technology in Estonia, have developed a new material that could enhance the efficiency of silicon

EU member states situated between the Baltic, Black, and Adriatic seas - Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia, Hungary, Slovenia,