Mirova & Evecon advance Estonia's energy transition with hybrid solar + storage project

Mirova and Evecon, through their joint venture Baltic Renewable Energy Platform OÜ (BREP), are advancing Estonia's energy transition. Key milestones include hybridizing the 77.5 MWp Kirikmäe solar PV plant with a 55 MW/250 MWh battery energy storage system (BESS), executing the first flexibility & power purchase agreement (FPPA) in the Baltics with Pure Energy GmbH, and securing €85 million in long-term financing from Swedbank. The hybrid system will enable BREP to store solar production and deliver grid stability services following the Baltic countries' disconnection from the BRELL grid. The FPPA with Pure Energy covers the full output of BREP’s portfolio.

Counterparts (8)

Partner

Evecon

company · 1 deals

Evecon is a Finnish company specializing in consulting and engineering services for the energy, infrastructure, and industrial sectors. They offer expertise in project management, design, and construction, focusing on sustainable and efficient solutions.

MET5

company · 1 deals

MET5 is an investment firm focused on infrastructure projects.

Lender

Swedbank

company · 1 deals

Swedbank is a leading bank in the Nordic and Baltic region, offering a wide range of financial services to private individuals, companies and organizations. While not exclusively focused on infrastructure, Swedbank provides financing and investment solutions that support infrastructure projects.

Investor

Mirova

company · 1 deals

Mirova is a mission-driven asset manager specializing in sustainable finance, offering a broad range of investment solutions including energy transition infrastructure, natural capital, equities, and fixed income. The company aims to combine long-term value creation with positive environmental and social impact, serving institutional, distribution, and retail investors globally.

borrower

Baltic Renewable Energy Platform OÜ

company · 1 deals

Baltic Renewable Energy Platform OÜ focuses on developing renewable energy projects in the Baltic region. They are involved in various stages of project development, from greenfield to operating assets.

supplier

Huawei

company · 1 deals

Huawei is a global technology company providing ICT infrastructure and smart devices. They focus on digital power, cloud services, and enterprise solutions.

Offtaker

Pure Energy GmbH

company · 1 deals

Pure Energy GmbH is an independent consultancy providing technical and commercial services for renewable energy projects. They offer expertise in project development, engineering, and asset management.

EPC Contractor

WiSo Engineering

company · 1 deals

WiSo Engineering is a German engineering company specializing in technical consulting, planning, and project management for infrastructure projects. They focus on providing comprehensive solutions across various sectors, including energy, industry, and construction.