We advised Metsagrupp, owner of significant land holdings in Estonia, on establishing the joint venture Metsatuul with Sunly Land. The joint venture combines the vast land holdings of Metsagrupp with Sunly’s renewable energy specialists and their long experience of developing and operating wind farms in Estonia.
Focus on developing wind energy
The Estonian capital based Metsagrupp has been managing forests for 25 years. Together with Sunly Land, the goal of their new joint enterprise is to develop wind energy in Estonia. Although still in the early stages, Metsatuul development projects are already planning some 80 wind turbines. Specific wind farm locations depend on cooperation with local governments and communities and take into account nature and defence-related restrictions.
Benefits for both the community and the environment
Management board member Urmas Rahnel said that Metsagrupp has always appreciated the importance of managing their forests as efficiently as possible. He adds that wind farm development will enable land use diversification and bring greater benefits to the entire community. With that in mind, they aim to investigate whether and under what conditions wind farms can be built on their land, especially in Saarde, Pärnu, Tori, and Põhja-Pärnumaa rural municipalities.
Priit Lepasepp, Sunly’s CEO and co-founder, comments: “Climate change is currently a very hot topic. To make green transition happen we need ‒ among other things ‒ land and wind energy know-how plus technology. Sunly works with landowners so they can use our skills and knowledge but also to upgrade the land itself.”
Our services and project team
We advised the client on preparing and negotiating the shareholders’ agreement plus other transaction documents. Our team, led by partner Piret Jesse, included senior associates Piret Lappert, Kaspar Endrikson, Robin Teever and associate Andra Grünberg.