Sunly, Deep Wind Offshore, and VALOREM Group join forces for offshore wind project Tuul Energy in Estonia
Estonian energy producer Sunly and French renewable pioneer VALOREM Group enters Deep Wind Offshore’s offshore wind project Tuul Energy for joint development in Estonia.
Sunly, Deep Wind Offshore, and VALOREM Group has signed a partnership agreement to develop offshore wind in Estonia. Following the agreement, VALOREM Group and Sunly will enter Deep Wind Offshores project, which includes an area of 250 km2 off Saaremaa Island under exclusive development. This collaboration on the Tuul Energy project combines international offshore and wind power expertise with local competence and experience to execute an ambitious project in a promising market.
Estonia has set it sights on 100% renewable energy by 2030 and to reach carbon neutrality by 2030. With ambitious targets for renewable energy, Estonia is positioning as the emerging leader for the offshore wind sector in the Baltic region.
Together, Deep Wind Offshore, VALOREM Group, and Sunly will develop the bottom-fixed offshore wind project with a potential of more than 1 GW. The partnership will contribute to meeting Estonia’s renewable energy goals – supporting the country’s energy security, development of value chains, and value creation – founded on a shared commitment to responsible project execution and engagement with local stakeholders.
This partnership marks a significant milestone for VALOREM Group in its international development. Together with Deep Wind Offshore and Sunly, we believe that the energy transition is built on cooperation and innovation. Thanks to the enlarged value proposition developed by VALOREM Group for offshore projects, we will combine our expertise for this promising Estonian project.
We welcome Estonia’s shift towards a Clean Industry-focused approach, which accelerates renewable energy production and strengthens the industrial base.
Sunly’s main expertise is in community relations. We are committed to helping communities understand how locally built renewable energy can benefit their businesses, lower electricity prices, and drive regional development.
Securing exclusivity for a major offshore wind area in Estonia was a big win for Deep Wind Offshore. Bringing along VALOREM Group and Sunly proves the willingness to commit to strong projects. In addition, the collaboration shows the increased interest for offshore wind in the region and that Estonia has created an attractive market. Now, we look forward to merging our efforts.
About the partners
Sunly is a renewable energy producer, dedicated to developing and operating renewable energy projects across the Baltics and Poland, while also investing in startups in the electrification sector and selling 100% renewable electricity to consumers in Estonia.
At the heart of Sunly’s mission is renewable energy production, playing a crucial role in achieving regional climate goals, energy security, and affordability.
Sunly has successfully raised €887 million from international investors, including EBRD, Copenhagen Infrastructure Partners (CIP), Mirova, Rivage, European Investment Bank and others. Currently, Sunly has 334 MW of operational solar and storage assets and 839 MW of wind, solar, and storage capacity under construction, including the largest solar park in the Baltics – the 244 MW Risti project.
Deep Wind Offshore is an international developer and owner of offshore wind projects, headquartered in Norway and with presence in Estonia, Sweden, Chile, and South Korea. Backed by strong industrial and financial owners, the Company develops a pipeline of more than 10 GW, including 4 GW under exclusive development.
VALOREM Group, a French pioneer in renewable energy, manages the entire value chain from development to operation and maintenance, for nearly 30 years. With 530 employees, VALOREM Group has expanded its presence to West Indies, Finland, Greece, Poland, Sweden and Romania. The group has financed 940 MW and holds a 7.6 GW project pipeline in development. The recent arrival of AIP Management in VALOREM Group’s capital, which has invested more than €7 billion in energy transition assets including several offshore wind projects, strengthens the group’s positioning in the markets.
Guided by values of transparency, reliability, and proximity, VALOREM Group is committed to building a sustainable energy future in partnership with local territories.
Press Contacts
VALOREM Group
Camille GIRARD – Communication Department Director
+33 (0)06 46 30 71 85 / camille.girard@valorem-energie.com
Lydiane RASSE-MAGNE – Head of Offshore Communication
+33 (0)06 34 08 11 37 / lydiane.rasse-magne@valorem-energie.com
HOPSCOTCH PR
Adrien CORTOT
+33 (0)06 58 53 30 90 / valorem@hopscotch.fr