Key Metrics
14.45
Heat Index-
Impact LevelMedium
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Scope LevelNational
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Last Update2025-08-31
Key Impacts
Positive Impacts (7)
Negative Impacts (2)
Event Overview
Large-scale international financing of renewable energy projects highlights the collaboration between multinational banks and energy providers to expand clean power infrastructure. This event underscores the increasing importance of cross-border investments in sustainable technologies, as well as the growing reliance on renewable sources to meet domestic electricity demands. It exemplifies the economic and regulatory support being channeled toward green energy transitions within national grids.
Collect Records
Sunly Receives Nearly €85 Million for Four Solar Parks in Latvia
Latvia is set to receive almost €85 million in international financing for renewable electricity provider Sunly. Sunly, based in Estonia, will use loans from the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and SEB to build four solar parks in Latvia with a total capacity of 329 megawatts (MW). This capacity is enough to meet the annual electricity consumption of up to 180,000 households. The financing package includes loans of €35.2 million each from the EIB and the EBRD, and €14.4 million from SEB.
The solar parks are due to be completed by early 2027 and will be located near Matīši village in Valmiera Municipality (54 MW), in Dagda Parish, Krāslava Municipality (90 MW), near Barkava village in Madona Municipality (81 MW), and in Zirņi Parish, Saldus Municipality (104 MW). EIB Vice-President Thomas Östros stated that the project is intended to generate clean power and build resilient, flexible, and future-ready energy systems. Grzegorz Zielinski, EBRD Head of Energy for Europe, called the initiative an important step toward Baltic energy security and climate goals. While the financing supports the solar component, there is an ambition to develop all the sites as hybrid parks by later integrating wind energy and battery energy storage systems.