Latvenergo
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Latvenergo acquires large-scale solar park in Dienvidkurzeme Municipality

Riga, 2024-11-11 09:00 CET -- Latvenergo AS has acquired 100% of the capital shares in DSE Aizpute Solar SIA to build a solar power plant with a total capacity of 265 MW by the end of 2025.

The solar park is located in Cīrava Rural Territory, Dienvidkurzeme Municipality. The project involves the construction of a 330 kV substation, “Cīrava”, with a connection to a 330 kV high-voltage line on the Latvian national grid. The total cost of the solar park is estimated at up to EUR 135 million.

Solar panels on structures equipped with a single-axis solar tracker system will be installed at Aizpute Solar Park, thus increasing the total electricity production by approximately 11% per year compared to traditional south-facing solar parks.

Latvenergo Group aims to develop an additional 2.3 GW of renewable energy generation capacity across the Baltic states. Currently, solar and wind power plants are being actively implemented and it is planned to increase renewable energy generation portfolio by 130 MW by the end of 2024, and by 1000 MW by the end of 2026.

Additional information:

Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process), Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation) and Latvijas vēja parki SIA (development of wind parks in Latvia). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.