sunly annual report 2022

Sunly’s Annual Report 2022 now published

2022 was an eventful and forward-pushing year for Sunly. We multiplied our pipeline, raised even more capital, and expanded our team.

Mirova became a new investor in Sunly, thus completing the first phase of our €200m capital raise.

Mirova is a conviction-based French asset management dedicated to sustainable investments and an affiliate of Natixis Investment Managers.

The Sunly Group acquired the Polish development company Alseva.

Alseva is one of the largest Polish solar power developers and constructors. Sunly and Alseva have been working together since 2019 and in 2021 Sunly decided to acquire of 100% of Alseva. The acquisition was finalised in April last year.

Our pipeline increased from 4.7 GW to 23.4 GW.

In the end of 2022 Sunly’s pipeline included 15 GW solar, 6.6 GW onshore wind, and 1.7 GW offshore wind projects.

Energiasalv has received an official permit and construction can go ahead.

Energiasalv’s underground pumped-hydro storage is a 500 MW “water battery” to be built in Paldiski, northwestern Estonia. The project’s 6 GWh storage capacity during one storage cycle of 12 hours is sufficient to provide electricity at affordable prices to consumers when there’s no wind or solar power available.

Sunly made 4 new investments into cleantech startups:

  • Up Catalyst – uses industrial CO2 to make nanocarbon materials and graphite that are used to make EV batteries significantly more sustainable.
  • Vok Bikes – provides e-cargo bikes to large companies as a service in Berlin, London, Stockholm, Tallinn & Vilnius.
  • Amperio – a Polish green energy solution platform, helping customers install solar panels & heat pumps in a cost-effective manner.
  • Switch EV – a UK one-stop solution for EV charging networks.

Sunly also supports early-stage accelerator Beamline Accelerator.

Plus, a lot more people joined Sunly – our team grew from 24 to 153.

Read more from our 2022 Annual Report.