SEB granted the first green loan of EUR 1.7 million to the energy company Sunly for the construction of solar parks

by Laura Roomets on November 2, 2020

SEB’s green loan directed at sustainable economy constitutes the first projects financed under the new renewable energy support scheme which, in addition to producing greener energy, will make renewable energy more affordable for the final consumer in the future as well. 

SEB’s Green Loan will finance the construction of 16 Sunly solar parks across Estonia which will together produce 3200 MWh of electrical energy per year. This is a sufficient amount to supply about 1240 averagely driving electric cars with green energy for a whole year.

“With the help of the green loan, we support the transition to a more environmentally friendly economy, which is why we are glad to finance the construction of Sunly’s first solar parks in Estonia. Renewable energy is the future that we are creating today, and the aim of SEB’s green loan is to support this positive trend with real measures,” said the Head of Corporate Banking at SEB, Artjom Sokolov

“This summer, at the first national renewable energy auction, Sunly won the right to construct two solar parks. These are also our first megawatt solar parks in Estonia, and it is fantastic that SEB’s green loan supports us in the establishment of these and several smaller solar parks,” said Sunly’s CEO and co-founder Priit Lepasepp.

By today, renewable energy has reached a mature development phase where the production thereof requires increasingly less support. This is why the State is organising auctions for the construction of new renewable energy plants, to ensure a lower renewable energy fee on the consumer’s electricity bills as a result of open competition.