Talin SunshineA renewable power supplier, it has announced that they have received about 429 MW (MW) in Latvia for the construction of four solar gardens in international financing – it has been reported to meet the annual electricity use of homes up to 180K.
The Financing Package includes $ 35.2 million from the European Investment Bank (EIB), $ 35.2 million from the European Bank (EBRD) and $ 14.4 million from the SEB.
“This financing is an important step in strengthening Latvia’s economy and energy supply“Said Tom NaburgSunny’s Country Manager for Latvia. “By developing the larger hybrid solar gardens, we are not only increasing the country’s renewable energy production capacity, but also increasing energy security and economic growth in the regions. These parks will provide long -term benefits to local communities with socially important projects and initiatives, as well as contribute to the country’s broad electrification and subsequent industrializationThe “
Founded in 2019, Sunley Baltics and Poland renewable energy projects are an independent energy manufacturer that developed. Sunley operates a renewable force of startups in Estonia and the electrification portfolio.
This company was founded by 4 Energia team after the 4nergia share was sold on Green AS. At the moment of acquisition, 4 Energia Baltics was reported to have the largest renewable power company. There are local teams in Estonia, Latvia, Lithuania and Poland in Sanley.
“Latvia’s bold push for hybrid solar infrastructure is exactly a kind of advanced investment investment in Europe“EIB Vice-President says Thomas östrosThe “We are proud to support Sunny’s attitude not to generate proud-cable clean energy, but to create a power system that is elastic, flexible and ready for the future. This project is a blueprint for how we can accelerate green transformation while strengthening regional energy protectionThe “
The Solar Park project identifies one of Latvia’s ambitious renewable-power initiatives till today and will accelerate the change in the Baltic region when increasing the power of Latvia-according to the sun.
The solar gardens are expected to be completed in the early 20227, and located near Matasai village of Valmeer Municipality (5 MW) in Dagda Parish, near Crosslava Municipality (5 MW), near Barkava village of Madona (5 MW) and Sald, Sald, Sal.
Although the opportunity for financing will support the solar material, the more widespread ambition is to develop all sites as hybrid parks, subsequently integrate air energy and battery energy saving systems, ensuring more stable power generation, improve the grid efficiency and enhance energy protection.
“We are satisfied with the development of our new renewable energy power in Latvia to build our partnership with Sunli“Said Gragegorz JilinskyEBRD Head of Energy for Europe. “It identifies an important step towards strengthening the power protection of the Baltic region and moving its climate goals forward. We are hoping to contribute our skills to make this power a scale and to support the transformation of green energyThe “
According to the statistics provided by Sanley, the Latvier installed solar power reached about 60600 MW at the end of 2024, doubled from 5 MW in 2021 and more than doubled from 5 MW in 2022.
Sunny’s large -sized solar projects aim to play a major role in achieving these goals.
Solar gardens are funded on non-resource basis without relying on government subsidies or long-term power agreements and designed for success in a competitive power market. Sunley has created more than 300 MW of renewable power in Estonia, Latvia and Poland in the past five years, plans to add more than 700 MW in the next two years.
“SEB in Baltics Sunlie from 2019 to Sunlie and we are very proud to support the company’s ambitious journey in Latvia with sophisticated hybrid solar park portfolio“Said Intts coastSeb is a member of the Latvia Management Board. “The solar capacity launched in 2027 will ensure the diversity of energy sources and strengthen Latvia’s power. This is the signature cooperation for the service Latvia as wellThe “
The total cost of the project is estimated at $ 203.9 million, Sunley provides $ 119.1 million. The new financing EIB and EBRD part for Sanley are supported by a guarantee under the Investue Program and promotes climate action and economic and social solidarity.
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