We are advising Sunly, an independent power producer, on raising EUR 30 million from the European Bank for Reconstruction and Development (EBRD).
Increasing energy security
As a result of the equity investment, the bank acquires a 5% minority stake in Sunly. The investment of the EBRD will enable Sunly to expand its renewable energy capacity in the Baltics and Poland, which is crucial for achieving significant greenhouse gases emissions savings, and for promoting energy security in the region.
Support on the growth journey
By investing in Sunly, EBRD is joining the pool of Sunly’s institutional investors led by Mirova – a conviction-based asset management firm dedicated to sustainable investment. As a new minority shareholder, EBRD will also work with Sunly to help strengthen its environmental, social, and corporate governance (ESG) practices, particularly focusing on the management of supply chain risks and issues.
The EBRD is a leading institutional investor in Poland and the Baltic States. To date, the Bank has invested EUR 12.6 billion in 496 projects in Poland, EUR 1.3 billion in 117 projects in Lithuania, EUR 991 million in 100 projects in Latvia, and EUR 905 million in 105 projects in Estonia.
Great interest from the market
The transaction completes Sunly’s capital raising round, which began in 2022, bringing the total volume of new investments to around 230 million euros. Sorainen has been Sunly’s main legal advisor throughout the funding round.
Next year, Sunly, the fastest-growing renewable energy developer and electricity producer in Estonia, plans to raise even more capital for the renewable energy transition as part of a new funding round.
Our services and customer team
We advise Sunly on all matters related to the investment round.