Sunly Released Annual Report Highlighting 2023 Achievements  

Within a year Sunly’s operational portfolio grew more than 3 times and green electricity production increased more than 2 times. Read the full report here. 

Key Highlights

Operational Success

We commenced operations of the 60 MW Rzezawa solar project in Poland and the pioneering Pikkori 2 MW solar + 2 MWh Battery Energy Storage System (BESS) park in Estonia, the first east-west oriented solar+BESS project in the country. Our operational portfolio increased from 53 MW to 164 MW.

Construction and Financing

Construction began on several major projects, including the 45 MW Raba solar park in Estonia, a 52 MW solar portfolio in Latvia, and a 69 MW solar portfolio in Poland, with substantial financing secured from Swedbank and mBank

Sunly Metsagrupp 244 MW PV

Portfolio Growth

Our total renewable energy portfolio has grown to 26 GW, with a risk-weighted portfolio of 10 GW, demonstrating our fast development pipeline. 

Funding Achievements

We welcomed the European Bank for Reconstruction and Development (EBRD) as a new investor with a EUR 30 million commitment. Additionally, our EUR 230 million capital raise for 2022-2023 received the Baltic Energy Deal of the Year award

Innovations in Solar and Wind

Sunly has advanced its solar energy solutions with innovative tracker systems and ESG-compliant panels. We also began development of our onshore wind portfolio in Poland and launched a community engagement program in Estonia to involve residents in our projects. 

Energy Storage Projects

We are co-developing the Energiasalv project in Estonia (a 500 MW / 12-hour pumped hydro storage facility), and expanding our BESS projects to support our hybrid solar parks. 

Commitment to Innovation

Sunly is investing 5% of our raised equity capital in innovation to drive forward renewable energy projects. Notably, our Zero Terrain Paldiski project raised 11 mEUR, reflecting strong belief in long-duration energy storage. 

Community Engagement

We remain committed to building strong, collaborative relationships with local communities, ensuring mutual benefits and sustainable development. Sunly and launched a new community engagement programme for wind farm developments.  

Sunly’s highly skilled and expanding team continues to play a crucial role in achieving our ambitious goals. We invite you to read the full report here to learn more about our achievements and future plans.