Energy transition bank Nord/LB and Swedbank Estonia have announced an €87m financing package for the Aidu wind farm in Estonia.
The funds will finance 67.5MW of the 75MW project being jointly developed by the Sõnajalg family and Dirkshof.
The Sõnajalg family and Dirkshof each own 50% of the project, which is located in the northeast of Estonia, in Ida-Viru County, and entered operation in June 2024.
Nord/LB and Swedbank each contributed €43.5m to the €87m total financing package.
Niels Jakeman, head of energy origination Europe at Nord/LB, said: “Financing regional projects that materially drive forward the global renewable energy transition is a central component of our DNA.
“The Aidu Wind Farm will help enable Estonia to deliver its ambitious renewable energy targets, and we are delighted to support the Sõnajalg family and Dirkshof in the country’s journey to net zero.”
Oleg Sõnajalg, chief executive of Aidu Wind Park, added: “Nord/LB and Swedbank have played a critical role in the financial support of the Aidu Wind Farm.
“They share a first-rate knowledge of the renewable energy industry and created a unique financing package that secures the long-term future and success of the project, helping to supercharge Estonia’s renewable energy programme.”