Latvenergo starts construction of solar panel parks in Estonia and Lithuania / Article / LSM.lv

State JSC “Latvenergo” has started construction of solar panel parks – the first projects with a total of more than 5,000 panels are being implemented in Klaipeda district in Lithuania and Marjama, Estonia, the company informed.

In Lithuania, in the Klaipeda district, a solar panel park project with a capacity of 1.5 MW will be implemented on an area of ​​more than four hectares. The park will house 4,410 solar panels and will generate enough energy to supply electricity to around 600 households. In Estonia, in Marjama municipality, a 250 kW solar power plant with 1000 panels will be built.

Latvenergo explained that an important factor in choosing to build a solar park in Lithuania is a new solution in the Baltic market, which came into force in 2019 and allows to purchase solar panel energy even for those who have not located them on their properties.

“We see this as a step in the development of new models for electricity generation and supply, including the improvement of the regulation of electricity communities.

Seeing the future potential of this development, we have decided to make the first such investment, “said the company.

It is planned to invest approximately one million euros in the establishment of a solar panel park in Lithuania.

Also in Estonia, where the project costs about 200,000 euros, it is planned to offer the electricity produced in the solar park to nearby companies and / or to sell it on the electricity exchange.

Site preparation work has already begun on both projects, and both parks are scheduled to be commissioned in the first quarter of 2021.

These projects are being implemented by Latvenergo Group’s subsidiaries Elektrum Lietuva and Elektrum Eesti, and the electricity generated in them is planned to be sold to end users in both markets.

Latvenergo does not exclude similar projects in Latvia in the future.

CONTEXT:

The profit of the state-owned Latvenergo Group last year reached EUR 94.4 milliono, which is 24% more than in the previous year. The group’s revenue reached 841.6 million euros, which is 2.8 million euros more than in 2018.

The total amount of Latvenergo Group’s investments in 2019 was 229.4 million euros, which is 8.8 million euros more than in 2018.

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