“The financial support and advice provided helped us to make this project a reality and to establish that wind farms are the energy providers of tomorrow”. Hardi Sui CEO, Energate
Being at the forefront of regional development, entrepreneurship and innovation, is part of EIF’s core objectives and is reflected in the companies backed by the funds in which EIF invests.
“Energate, a gate to energy” is what this company promises, describing in a nutshell its activity.
Since 2008, Energate had successfully operated last mile natural gas distribution in Estonia for customers around Tallinn and Tartu, including those in the most remote locations, and was ready for new challenges.
CEO Hardi Sui believed that Energate’s future lay beyond their traditional activity and wanted to embark in innovative renewable energies projects so that his company could become the Estonian gate to green energy. In the greater scheme of things, he was convinced that the development of renewable energy would have a part to play in the regional growth of Estonia.
Keen to prepare for the set-up of an 18MW wind farm project in south-west Estonia, he found the perfect strategic partner in Baltcap, a private equity firm who believed in his business model. Backed by EIF and thanks to the CIP resources of the European Commission, Baltcap provided the capital Hardi Sui needed to realise his plans.The additional financing capacity made the building of the infrastructure for six wind turbines to be later integrated in the energy network possible.
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