Energy, Estonia, Financial Services, Loan

The new unsecured loan agreement provides for a five-year credit limit, which will support Enefit Green's growth plans and further strengthen the company's liquidity buffer and financial flexibility, Eesti Energia said.

"We are pleased to strengthen cooperation with SEB, an important financial partner of Enefit Green, and to increase flexibility in financing the company. An attractively priced financing channel for five years coincides with Enefit Green's strategic focus on reducing the company's capital costs," Enefit Green CFO Veiko Raim said in a press release.

"For SEB, Enefit Green is one of the region's leading renewable energy producers, who sees a long strategic perspective in this energy field for both its own company and the state of Estonia more widely," SEB management board member Artjom Sokolov said, adding that SEB has strategically set itself to be the leading financier of renewable energy in the Nordic and Baltic countries.

Enefit Green is a renewable energy company belonging to the Estonian state-owned Eesti Energia group that owns 20 wind farms in Estonia and Lithuania, four cogeneration plants in Iru and Paide in Estonia and Valka and Broceni in Latvia, one hydroelectric power plant in Keila-Joa, 36 solar power plants in Estonia and Poland, and a pellet factory in Latvia. The company is one of the largest renewable energy producers in the region and the largest producer of wind energy.