‘Merito Partners’ in partnership with the renewable energy project developer ‘Saules Energy’, has opened Latvia’s largest solar power plant ‘Carnikavas SPP’, located in in Ādaži municipality. The project was implemented with EUR 8 million investment from Latvian investors and financing from Swedbank. Carnikava SPP has a capacity of 12 MW and will generate more than 12 300 MWh of electricity annually, which is equivalent to the electricity consumption of more than 5,800 households.
The newly opened SPP is situated in Carnikava Parish within Ādaži municipality and spans 11.7 hectares with 22,300 solar panels installed.
During the opening of Carnikavas SPP, Zanda Kalniņa-Lukaševica, Saeima Deputy Speaker, emphasized: “With every kilowatt of electricity generated in Latvia, we are enhancing our security, economic strength, and most importantly, our independence. The construction of this solar power plant in Ādaži municipality marks a significant milestone in advancing energy independence for both the region and Latvia. The beneficiaries of the development of green infrastructure sites are both residents and businesses. I would like to extend my sincere appreciation to the investors for their visionary initiative and investment. I encourage them to actively collaborate with Latvian scientists to jointly create innovative technologies that will enable the full utilization of renewable energy generated.”
Carnikavas SPP is owned by Merito Sustainable Energy Fund I, the largest solar power plant operator in Latvia. This project was implemented in collaboration with experienced experts from Saules Energy. Carnikavas SPP is the fourth SPP commissioned by the fund this year and the total capacity of operational portfolio is 25 MW. The Fund plans to commence the next project Kalkūnes SPP, located in Augšdaugavas municipality, by the end of this year. Three additional solar plant projects are scheduled for 2024. Overall, eight SPPs will generate at least 70,000 MWh of electricity annually, providing green energy to over 35,000 households in Latvia.
The solar power plants financed by the Merito Sustainable Energy Fund I are being constructed with a direct connection to the distribution infrastructure. This ensures that the generated electricity is available to its local consumers, including residents and businesses.
“Ādaži municipality is one of the first regions in Latvia where environmentally friendly electricity is being generated by an industrial scale solar power plant. Working together, we must aim for an ambitious goal – to increase the share of renewable electricity nationwide to at least 70% by 2030. Sustainable energy production can provide greener and more cost-effective electricity with a stable consumption, while enhancing Latvia’s energy security. Each project that brings our country closer to a more environmentally friendly and climate-neutral policy sets a positive example to our society,” explained Kaspars Melnis, Minister of Climate and Energy.
According to Mikus Janvars, Co-founder and Managing Partner at Merito Partners, “Carnikava SPP was funded by 63 Latvian investors and a EUR 4.5 million loan from Swedbank, with investment totalling EUR 8 million. Merito Sustainable Energy Fund I is investing EUR 50 million in total in green infrastructure projects. This investment not only strengthens Latvia’s energy independence but also offers significant potential for returns.”
The general contractor for the Carnikava SPP project is a Latvian company KL Systems, with 12 years of experience in building industrial solar parks worldwide. During the construction and operation of Carnikavas SPP, significant attention has been paid to environmental protection and the preservation of biodiversity. For instance, the power plant’s territorial fence has been raised to allow smaller animals to freely access the territory, which also provides shelter to both amphibians and other animals. Furthermore, the project developers are actively building working relationships with local farmers so that the meadows on the SES site for the needs of beekeeping and grazing sheep next year.