Sunly

🎥 Sunly's End-of-Year Greetings! 🎄 At Sunly, we’re in a serious business, but that doesn’t mean we have to be serious all the time while doing it! To wrap up 2024, we’re sending our warmest holiday greetings to all of our fans, partners, and investors. Thank you for being a part of our journey this year. Will next year be less eventful? We promise—it won’t! Big plans and exciting milestones lie ahead. 🎉 Happy holidays and a successful New Year!

🎉 What a year it has been for Sunly! 2024 was packed with achievements that pushed us forward: raising €360 million, starting construction of the largest solar park in the Baltics (244 MW) in Risti, and upgrading our brand to reflect our growing ambitions. But these milestones are more than just headlines—they represent the hard work, dedication, and collaboration of our incredible teams. We are especially proud to see this effort recognized beyond our walls. Estonian business news outlet Äripäev has nominated our CEO, Priit Lepasepp, as one of the 12 candidates for their Entrepreneur of the Year award! 👏

Sunly supports future talent! We are proud to award a 3000 € scholarship to Anna-Mai Allikmäe, a TalTech – Tallinn University of Technology Green Energy Technologies student who has impressed us with her proactivity, passion, and determination in the renewable energy field. Anna-Mai is particularly interested in renewable energy, grid operations, and energy trading—topics that are at the heart of Sunly’s mission. As we work to advance the future of clean energy and drive innovation in our industry, we see incredible potential in young talents like Anna-Mai, who will help shape the energy landscape of tomorrow. Congratulations, Anna-Mai! 🌟 We wish you continued success in your studies and future career.

📣 52MW of Solar Capacity Now Operating in Latvia 🌞 We are pleased to announce the successful completion of 6 solar parks in Latvia, bringing our total operational capacity to 52MW. The largest of these projects is the Solar Park near Liepāja lake, with a capacity of 13.1MW. The construction was financed by Swedbank Latvija with €22 million, marking their largest financing in the solar park sector in Latvia to date. 💬 Toms Nāburgs, Sunly’s Country Manager for Latvia, noted: “This was a productive learning experience that has prepared us to take on even more ambitious projects. We are now developing parks where the smallest one will exceed the total capacity of the operational portfolio we just completed.”

At the end of November, our CFO, Lili Kirikal, represented Sunly at the Baltics Market Spotlight panel during the Large Scale Solar Series in Warsaw. Lili shared valuable insights into the solar market dynamics in the Baltics, emphasizing that there’s no shortage of solar developments, giving financing parties the opportunity to select only the best projects. She also addressed the upcoming desynchronization from BRELL in February 2025, discussing its potential impact on Battery Energy Storage Systems (BESS) and the critical role they play in stabilizing the grid during this transition. As the Baltics step into a new era of renewable energy, we’re proud to be part of the conversation shaping the future. 🌱

We’re thrilled to announce that Sunly has successfully closed a €60 million equity funding round, led by our committed existing shareholders, including significant contributions from European Bank for Reconstruction and Development (EBRD), Mirova, and Vardar AS. This latest milestone strengthens our mission to accelerate renewable energy development in the Baltics and Poland. This equity raise follows our €300 million debt financing round in August 2024, bringing the total support for Sunly’s expansion to an impressive €825 million in debt and equity capital. 🚀 A huge thank you to all our partners and investors who believe in Sunly’s ability to lead the way in clean energy transformation. 🌱

🌱🇵🇱 Marek Motyl, Country Manager of Sunly Polska, participated in a panel discussion at the Open Eyes Economy Summit, where he shared his insights on green investments in Poland. Green investments are becoming a key element of economic strategy, supporting sustainable development and the transition toward more ecological and resilient economic models. During this session, participants explored the challenges and opportunities Poland faces in developing and financing green initiatives. The speakers discussed the prospects for sustainable investments, including new forms of financing and the role of the private sector in achieving ambitious environmental goals. The panel also covered legal, regulatory, and innovative approaches that support the implementation of green investments in Poland. The discussion provided an opportunity to exchange experiences, identify barriers, and propose actions that could accelerate the adoption of sustainable business practices.

⚒️☀️ Construction of the largest solar park in the Baltics officially began yesterday, as Sunly’s co-founder and CEO, Priit Lepasepp, along with partners, ceremonially installed the first solar panels at Risti, Lääne County. The 244 MW solar park in Risti, developed in collaboration with Metsagrupp, is set to become operational in the fall of 2026, will have a total capacity of 244 MW and generate electricity for approximately 55,000 households. According Priit Lepasepp, the Risti solar park is part of a broader hybrid energy project that combines solar, wind, and energy storage. “In addition to the solar park, we plan to add storage opportunities at Risti in the coming years, which will help stabilize electricity prices for consumers in the future,” Lepasepp said. The planned battery park will have a capacity of 144 MW. As part of an ongoing special spatial plan for wind energy, the company is also working with the community to identify a location for nine wind turbines. Erkki Keldo, Estonia's Minister of Economy and Industry, commented that it is crucial for Estonia to provide both new and existing investors with confidence that we can deliver clean energy at a reasonable price within the promised timeframe. Without this, the competitiveness of both current and future industries will be low. "It is also important to consider not just foreign investors but also the companies already operating here. The Ministry of Economy is actively seeking solutions to simplify the planning process for developers by analyzing all aspects of the planning process," Keldo said. Read more - link in the comments 👇 📸 Patrik Tamm

🔌 This week, Lili Kirikal, CFO at Sunly, participated in a panel discussion at the Baltic & Nordic Energy Summit, sharing insights from a developer's perspective on financing solar and energy storage projects in the Baltic region. The key goal for solar energy, like other renewables, is to ensure energy availability when it's actually needed. To move closer to this goal, we need to: ⚡ Integrate BESS (Battery Energy Storage Systems) and wind to the same grid connection as solar; ⚡ Enable solar, both independently and in hybrid with BESS, to generate revenues through ancillary services.

☀ Lili Kirikal, CFO at Sunly, will be speaking at the upcoming Large Scale Solar Central and Eastern Europe Summit, taking place on 26–27 November 2024 in Warsaw, Poland! Lili will participate in a panel discussion titled "The Baltics Market Spotlight" which will explore key topics, including: - What impacts will the 2025 desynchronisation from the Russian grid have on the region? - What are the best opportunities for solar PV in this part of CEE? - What policies and incentives are the Baltic governments implementing to support renewable energy development, and how can you take advantage of these? - As interest in hybrid projects increases, how can you maximise returns while also driving the energy transition? Use the code SPEAKER20 to save an additional 20% off your ticket! 👉 Explore the full agenda - link in the comments!