Latvenergo acquires 265 MWp solar park project in Latvia from Danish developer

Latvenergo AS, Latvia’s leading energy company, has acquired 100% of the capital shares in DSE Aizpute Solar SIA from Danish developer Danish Sun Energy ApS to build a solar power plant with a total capacity of 265 MWp by the end of 2025. The total construction costs of the solar park are estimated at up to EUR 135 million. 

The solar park project involves the construction of a substation, “Cīrava”, with a connection to a 330 kV high-voltage line of the Latvian national grid. Solar panels shall be installed on structures equipped with a single-axis solar tracker system which enables the angle of solar panels to be changed and repositioned in the east and west directions, thus increasing the effective production time of the solar park in the morning and evening hours.  

This is a significant step in implementing the objective defined in the operational strategy of Latvenergo – making a significant contribution to achieving the goals of the Latvian Green Deal by expanding and diversifying its generation portfolio with green technologies, moving towards climate neutrality in 2050. 

COBALT team including Partners Gatis Flinters, Dace Silava-Tomsone and Sandija Novicka, Senior Associate Mārtiņš Tarlaps, and Associates Toms Dreika, Krista Helmūte and Vadims Zvicevičs provided legal support to Latvenergo during the entire transaction, which included conducting legal due diligence of the solar park project and construction documentation related to it, preparing transaction documents, and assisting the client in the negotiation process. 

Latvenergo official announcement.