Renewables company Sunly raises €300m for hybrid renewable parks
Estonia’s Sunly has announced new funding of €300m to help it roll out a number of hybrid solar/wind/storage projects across Poland and the Baltics.
The company currently has 230MW of operational solar parks, with a further 126MW under construction, as well as a 2MWh storage integrated into one solar park. It’s claimed the new funding will help accelerate the construction of 1.3GW of hybrid energy projects, with colocation of generation and storage a key part of Sunly’s strategy for keeping costs down.
Sunly said combining wind, solar and energy storage helps to improve energy production stability across various weather conditions and optimises cost-efficiency by reducing grid connectivity charges – forecasted to account to more than half of the total energy cost. The approach is expected to ‘significantly benefit consumers’, particularly large industrial clients with high energy consumption, by enhancing regional energy security and reducing reliance on Russian gas.
“This investment enables us to improve our infrastructure with new grid connections and solar parks in the Baltics, which will support our onshore wind and storage pipeline expansion,” said Priit Lepasepp, co-founder and CEO of Sunly.
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