LHV pension funds to invest in renewable energy company Sunly
LHV’s pension funds are set to invest up to 14 million euros in the bonds of the renewable energy company Sunly Land. With the investment, the company plans to grow its renewable energy portfolio, extending its business operations in Poland.
The pension fund investment will be made in the form of bonds with an interest rate of 8%. The renewable energy company’s bonds will be redeemed after five years.
LHV pension fund portfolio manager Maarja Pärs says that three important aspects make the Sunly investment special. “We’re contributing to the growth of Estonian capital abroad, we’re championing the rise of green energy and we’re earning decent returns for our pension clients,” she said. “So that’s three good things in one.” Pärs added that in making investments LHV is always guided by the principle that every injection of capital should be based on mutually beneficial relations. “Sunly’s growing very nicely at the moment and we feel we can be of use to each other as it continues to grow,” she explained.
In addition to Poland, Sunly is also constructing solar parks in Estonia, where the company is developing wind parks both on land and at sea. In its 1,5 year of operations, it has invested 25 million euros in renewable energy.
LHV pension funds are managed by AS LHV Varahaldus. The funds have approximately 185,000 clients. LHV offers both actively and passively managed II and III pillar pension funds valued at almost 1.5 billion euros in total.
LHV pension funds were advised on the investment by Ellex partners in Estonia Ermo Kosk and Gerli Kivisoo, and Counsels Toomas Kasesalu and Rain Raa.