Estonian renewable energy producer Sunly has raised 300 million euros ($334.71 million) in debt financing to accelerate the construction of 1.3 gigawatts of solar, wind and storage capacity across the Baltics and Poland, the company said in a statement.
The financing provided by Rivage Investment, Copenhagen Infrastructure Partners (CIP) and Norway's Kommunal Landspensjonskasse takes the total capital raised to 765 million euros, it said on Tuesday.
The first projects to benefit from the funding will be the 244 megawatt (MW) Risti solar farm in Estonia and four solar projects in Latvia with a combined capacity of 553 MW, Sunly said.
Separately, Norway's sovereign wealth fund said on Monday it would commit 900 million euros ($1.01 billion) to CIP's latest renewable energy fund.
($1 = 0.8963 euros)