Latvia’s largest solar power plant was opened near Daugavpils – Uzladets

The most ambitious solar power plant in Latvia – “Kalkūnes SES” – has started production in the Upper Daugava region. “Merito Partners” investment fund together with “Swedbank” invested 10 million euros in its creation.

The production capacity of the new power plant is sufficient to supply at least 6,500 Daugavpils households with environmentally friendly energy.

“Kalkūnes SES” is located in the Kalkūnes parish of the Augšdaugava region, 10 kilometers from the center of Daugavpils. With its installed capacity of 13.3 megawatts, it will produce at least 13,500 megawatt-hours of renewable energy annually. The new power plant has been developed with a connection to the distribution infrastructure, so the produced electricity is consumed by local residents and companies.

Almost 10 million euros of Latvian capital were invested in the creation of “Kalkūnes SES”, including 4.7 million euros of co-financing from “Swedbank”. The owner of the new solar power plant is the domestic investment fund “Merito Sustainable Energy Fund I” – currently the largest operator of solar power plants in Latvia. Last year, together with the developer of renewable energy projects “Saules Energy”, it implemented the construction of four new SES in Zilupe, Brenguli, Inčukalnė and Carnikava with a total capacity of 25 MW. Three more power plant projects in Koknes, Cēsis and Valmiera will be implemented by autumn 2024.

The eight new SES will produce a total of at least 70,000 MWh of electricity per year, supplying more than 35,000 households throughout Latvia with green energy. This is an investment of more than 80 Latvian private and institutional investors in renewable energy infrastructure with significant return potential and added value – benefit to local residents and municipalities.

Mikus Janvars, co-founder and managing partner of “Merito Partners”.

The general contractor of the “Kalkūnes SES” project is the Latvian company “KL Systems” with many years of experience in the construction of industrial solar parks in Europe and elsewhere in the world. In the creation and operation of the solar power plant, much attention is paid to the preservation and protection of the biological diversity of the environment. On its territory there is a natural meadow with specially designed habitats for insects and animals, which will eventually be used by local farmers’ bee colonies and flocks of sheep. On the other hand, the 22,300 solar panels located in the solar power plant will be recycled after the end of their service life and their components will be reused.

“Saules Energy” is a developer of renewable energy projects in Latvia. The company’s goal is to make investments in environmentally friendly technologies profitable and serve a wide range of society. The alternative investment fund “Merito Sustainable Energy Fund I” registered in the Bank of Latvia is managed by “Merito Partners” – a rapidly growing private capital investment company operating in Latvia and the surrounding region.