EBRD funds solar park in Estonia

The European Bank for Reconstruction and Development (EBRD) is providing €22 million to KC Solar2 OÜ for constructing a 45 MW solar park in Kehra, Estonia. Named Pihlaka solar farm, it will annually generate 41,230 MWh, supporting Estonia’s renewable energy goals. The project, part of the Baltic region’s early renewable energy initiatives, operates on a fully merchant basis and is supported by the European Union’s InvestEU program. KC Solar2 OÜ, a subsidiary of KC Energy OÜ, specializes in solar projects and currently operates 83 MW of solar farms across Estonia. EBRD’s investments in Estonia total over €974 million across 112 projects.