April 13 (Renewables Now) – Estonia-based renewables developer and unbiased energy producer (IPP) Sunly AS will get EUR 11 million (USD 12m) in financing from automobiles managed by Eiffel Funding Group for its photo voltaic investments in Poland.
The bridge facility, prolonged below the Eiffel Power Transition programme, will assist Sunly finance the acquisition of ready-to-build photo voltaic initiatives and pay deposits for tenders and grid connection purposes. The financing will speed up the corporate’s growth in Poland.
Eiffel Funding has EUR 4 billion below administration, with primarily giant institutional traders as purchasers.
“We’re glad to contribute to the acceleration of Sunly’s funding program in Poland and within the Baltics, in addition to its technique to combine growth and EPC actions. The north-eastern European market is a strategic area for the acceleration of the European vitality transition, that Eiffel is glad and proud to assist,” mentioned Pierre-Antoine Machelon, CIO Power Transition at Eiffel.
Sunly just lately wrapped up the acquisition of a 100% stake in Polish photo voltaic PV specialist Alseva Group. Collectively, the businesses have 16.2 GW of photo voltaic and wind initiatives below growth. They plan to launch building of greater than 250 MW of photo voltaic capability within the subsequent 12 months, Sunly CEO Priit Lepasepp mentioned earlier this month.
(EUR 1 = USD 1.086)