Valmieras SPP, a new industrial-scale solar power plant, has been built next to Valmiera. Together with Brenguļu SPP, which started operating last year, they are the region’s most powerful solar plants, providing green electricity to 7,000 households annually. Both projects have been developed by “Merito Partners” and renewable energy project developer “Saules Energy.”
Valmieras SPP is located in an industrial area next to the AS “Valmieras stikla šķiedra” factory and the “Valmiera” substation. The new power plant has a capacity of 7.1 MW and can generate at least 6900 MWh of renewable energy annually, which is equivalent to the average consumption of 3500 local households.
Jānis Baiks, Chairman of the Valmiera Municipality Council, remarked: “With new investment projects and manufacturing enterprises in the region, energy consumption is rising. Green energy is vital for minimizing environmental impact and boosting competitiveness. We are pleased that a new solar power plant has been constructed near Valmiera to supply local households and nearby manufacturers with clean energy.”
Valmieras SPP is owned by “Merito Sustainable Energy Fund I,” the largest solar power plant operator in Latvia. This is the eighth and final solar power plant in the ambitious green infrastructure project.
“With investment from over 80 Latvian private and institutional investors and in collaboration with “Saules Energy”, we have built eight solar power plants in Zilupe, Brenguļi, Inčukalns, Carnikava, Kalkūne, Koknese, Cēsis, and Valmiera. These plants have a combined capacity of 70 MW, providing electricity for more than 35,000 households. This significant green infrastructure project offers substantial returns and benefits to the Latvian economy,” states Mikus Janvars, co-founder and managing partner of “Merito Partners.”
The total investment in Valmiera SPP project exceeds EUR 4 million, including almost EUR 2.5 million in co-financing from Citadele Bank. Vaidas Žagūnis, Board Member and Head of Corporate Client Management for the Baltics at Citadele Bank: “The transition to the Green Deal is a priority for the European Union. Investments in alternative energy sources are also backed by the European Investment Bank’s guarantee program for entrepreneurs, enabling co-financing at a reduced interest rate. Valmieras SPP marks the third solar power plant construction project we have completed with “Merito Partners”, enhancing Latvia’s sustainable energy infrastructure and local green electricity production.”
The Valmieras SPP site consists of 12,000 solar panels, with a strong focus on safeguarding environmental biodiversity during both its development and operation phases. The project’s general contractor is the Latvian company “KL Systems,” which has been implementing large-scale solar power plant projects across Europe and globally for the past 15 years.