To increase and diversify its portfolio of renewable energy sources in the Baltics and Poland, independent power producer Sunly has raised over €200 million.
Sunly will put the money to use in accordance with its two-year investment strategy, which calls for the expansion of its 17.9 GW pipeline of wind and solar energy in Poland and the Baltic States.
Sunly will hire more team members in the upcoming years to support its expansion, taking its workforce from the present 135 to 400.
Additionally, Sunly provides stock options to its employees in all four countries so that they can share in the company’s expansion.
Existing Sunly shareholders and Mirova, a Natixis Investment Managers affiliate and French asset manager focused on sustainable investing, which has grown to be the company’s largest investor, both contribute to investments.
Priit Lepasepp, CEO and co-founder of Sunly, said “We are extremely grateful for the trust of both existing and new investors. This is great news for our community of partners and employees.”
“We will advance and build solar and wind farms, which helps the current energy crises we are all experiencing.”
“Sunly’s projects will contribute to lower power prices and increased energy security.”
Raphael Lance, Director of Mirova’s energy transition infrastructure funds, added “We are very pleased with our investment in Sunly which is in line with our strategy to support the growth of pan European developers committed to energy transition and help them become large independent renewable power producer.”
“We share the same values with the Sunly shareholders and management team to grow wind and solar plants as fast as possible, developing projects that are respectful towards nature, well integrated with the local communities and socially accepted.”
“We are both willing to expand while setting the highest standards in terms of sustainability and are convinced of the energy transition potential of the Baltics countries and Poland.”