Sunly raises 200 million euros and welcomes Mirova as a new investor
Independent power producer Sunly raises around 200 million euros to build and expand its renewable energy portfolio in the Baltics and Poland. The capital raise includes investments from Sunly’s existing shareholders and welcomes Mirova, an affiliate of Natixis Investment Managers and French leading asset manager dedicated to sustainable investing, which is becoming the largest investor. None of the investors has the majority stake in Sunly.
Sunly will use the capital according to the 2-year investment plan that foresees further development of its 17.9 GW pipeline of solar and wind power in the Baltic States and Poland.
Priit Lepasepp, CEO and co-founder of Sunly, comments that he is 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,” says Lepasepp. “Sunly’s projects will contribute to lower power prices and increased energy security.”
To grow exponentially, Sunly is hiring new team members in the coming years, increasing the crew from the current 135 to 400 people. Sunly is also offering stock options to its people in all four countries, so that employees can benefit from the company’s growth.
Raphaël Lance, Director of Mirova’s energy transition infrastructure funds, comments: “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.”