CMS advises Sunly on financing for largest solar park in the Baltics

CMS has advised Sunly on securing EUR 62m in financing for the construction of the largest solar park in the Baltics, in Western Estonia. The financing was provided on a fully merchant basis by a consortium of banks, including the European Investment Bank (EIB), SEB, and Luminor.

The Risti solar park will be situated 65km southwest of Tallinn in Lääne County and is set to become operational in 2027. With a capacity of 244MWp, it will be the largest photovoltaic (PV) facility in the Baltic region and has been designed to integrate BESS and onshore wind in the near future. The project is being developed in collaboration with local landowner Metsagrupp and will contribute to increasing the region’s energy security and independence.

Sunly is a renewable energy company operating in the Baltic states and Poland. The company focuses on four key areas: solar and wind energy, energy storage, and innovation. Sunly boasts operational parks in place across the region and is continuously expanding and developing new projects.

The CMS team was led by Katarzyna Mazur and Martyna Markiewicz with support from Sebastian Łyś and supervision by partner Jakub Wieczorek (Banking & Finance).