Sorainen has advised Sunly on raising approximately EUR 200 million to expand its renewable energy portfolio in the Baltics and Poland. The fundraising included existing shareholders and new investor Mirova. Ellex and Linklaters advised Mirova on the investment.
Sunly is an independent power producer. According to Sorainen, Mirova is an affiliate of Natixis Investment Managers and a French asset manager dedicated to sustainable investing. “None of the investors have a majority stake in Sunly. Sunly will use the capital according to the two-year investment plan that foresees further development of its 17.9-gigawatt pipeline of solar and wind power in the Baltic states and Poland.”
“This is great news for our community of partners and employees,” commented Sunly CEO and Co-Founder Priit Lepasepp. “We will advance and build solar and wind farms, which helps the current energy crisis we are all experiencing. Sunly’s projects will contribute to lower power prices and increased energy security.”
Sorainen’s team included Partner Paul Kunnap and Senior Associates Mirjam Vichmann and Mirell Prosa.
Ellex’s team included Partners Ruta Armone, Dovile Greblikiene, and Martin Kaerdi, Associate Partner Edvinas Beikauskas, Senior Counsel Iveta Ceple, Counsels Jaanus Ikla and Triin Frosch, Expert Gintaras Balcius, Senior Associates Arvydas Gruseckas, Augustinas Macionis, Hanna Pahk, and Gabriele Vazniokaite, and Associates Gabriela Fomina and Ineta Kanepe.
Linklaters’ team included Partners Patryk Figiel and Daniel Cousens, Of Counsel Mikolaj Bieniasz, Counsel Christopher Quinn, Managing Associate Jakub Dabrowski, Senior Associates Michal Szperzylski, Michal Maruszak, and Michal Nocol, and Junior Associate Dominik Piechowiak.