Sunly, a renewable-energy producer, has raised €300 million ($335 million) in debt financing to accelerate the construction of 1.3 gigawatts of solar, wind, storage and hybrid parks across the Baltics and Poland.
The financing was provided by Rivage Investment, via REDI HR2 (its second high-yield infrastructure debt fund) and its Fund for Infrastructure Climate Solutions, and Copenhagen Infrastructure Partners (CIP) through its Green Credit Fund I, with additional participation from Norway’s largest pension company, Kommunal Landspensjonskasse (KLP), through funds managed by CIP.
As the European Union actively works on reducing its dependence on Russian gas, it faces ongoing challenges, according to Sunly. Despite efforts to decrease reliance, E.U. countries imported around 30 percent more natural gas from Russia in May 2024 compared with September 2022, reports Clean Energy Wire. In the Baltic states and Poland, Russia's significant influence in the regional energ