Latvenergo JSC plans to complete and make operational the first two solar panel parks in Latvia by the end of the year, as the company’s wind and solar park development director Ilvija Boreiko reported in the latest Electricity Market outlook.
She mentions that it is Latvenergo’s goal to increase its renewable energy generation portfolio, with a focus on wind turbines and solar panel power stations in Latvia, Lithuania, Estonia and Poland.
By the year 2030 it is planned to implement wind and solar power plant projects with a total power output of 2 300 MW.
In total Latvenergo has solar parks in Baltic States with a total power output of 15 MW. There are also solar parks in development that will potentially provide 145 MW.
“A large portion of Latvenergo’s solar parks are under construction in Lithuania, because the solar park construction “boom” in this country started slightly earlier than it did in Latvia. It is because of this reason Lithuania already has appropriate regulations in place,” explains Boreiko.
She also said there are four solar parks in Lithuania that generate electricity under Elektrum brand. Two more parks are under construction.
In Estonia there is only one solar park that generates electricity under Elektrum brand.
The first two solar parks in Latvia are under construction. Latvenergo plans to complete those by the end of the deal.
Latvenergo is engaged in electricity and heating energy production and trade, as well as natural gas trade and electricity distribution services. Latvenergo is owned by the Latvian state, but the company’s shares are quoted at Nasdaq Riga share exchange.
Also read: Tallink Grupp prepares for lay-offs in Estonia and Latvia