We advised independent power producer Sunly on raising around EUR 200 million to build and expand its renewable energy portfolio in the Baltics and Poland.
Big interest from the market
The capital raise includes investments from Sunly’s existing shareholders and welcomes Mirova, an affiliate of Natixis Investment Managers and a French leading asset manager dedicated to sustainable investing, which is becoming the largest investor. None of the investors have a majority stake in Sunly.
Increasing energy security
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.”
Our services and client team
We acted as lead legal counsel for Sunly throughout the transaction.
Our client team was led by partner Paul Künnap and senior associates Mirjam Vichmann and Mirell Prosa, supported by lawyers from all of our Baltic offices.