The total project cost is estimated at €125 million. The project supports the EIB's Climate Action and Economic and Social Cohesion objectives and will benefit from an InvestEU guarantee. With an installed capacity of 77MW, the Kirikmäe solar park doubles the capacity of the previous 'largest' plant in Estonia. The companies dubbed it the. 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. In the summer of 2023, there were 236 hours of zero or negative electricity prices, indicating an oversupply of energy at certain times of the year. This could slow down the expansion of solar capacity in the short term. For a factory operating multiple shifts, this means the cost of running a laminator. Estonia added a record 513 MW of new solar capacity in 2024, bringing its total installed PV capacity to more than 1. 3 GW, according to the Estonian Chamber of Renewable Energy (Eesti Taastuvenergia Koda).