Estonia

The European Investment Bank (EIB), together with local commercial banks SEB and Luminor, is lending the Estonian renewable energy company Sunly €62 million to build and operate a solar park in the country, accelerating the Baltic region’s green transition and electricity independence. The EIB is lending €31 million to Sunly, while the remaining €31 million is covered by SEB and Luminor.

Almost nine in 10 Estonian firms – 87% – have acted to reduce greenhouse gas emissions, in line with a 91% average in Europe, according to a European Investment Bank (EIB) Group survey. Estonian businesses are more likely than companies elsewhere in the European Union to promote cleaner technologies and business areas while being less likely to focus on energy efficiency, new country results from the EIB Group Investment Survey (EIBIS) show.

The European Investment Bank (EIB) Group’s financing in Estonia last year amounted to €498 million, representing 1.3% of Estonia's GDP. This was the second highest in the European Union as a share of gross domestic product (GDP). This support helped hundreds of businesses grow and contributed to making the country greener, generating nearly €2.2 billion in additional investments.