Ignitis Renewables, an international green energy company, is expanding its operations in Latvia. The investment decision foresees an investment up to EUR 106 million in the development of the 174 megawatt (MW) Tume solar farm, which will be one of the largest of its kind in the Baltics. This will be the third Ignitis Renewables solar project in Latvia and demonstrates the company’s commitment to accelerating the region's drive towards a greener and more sustainable future.
'We are ambitiously working to expand the renewable energy segment and develop new projects in Latvia, as Ignitis Renewables sees huge growth potential in this region. Expanding our portfolio of solar energy projects is a significant benefit for households, businesses and for supporting local community initiatives in the region where we are developing renewable energy projects. It also allows us to move closer to implementing Ignitis Group’s strategic priority to deliver 4–5 GW of installed green capacities by 2030,' stated Thierry Aelens, CEO at Ignitis Renewables.
The Tume solar farm will be located in the Tume parish of Tukums municipality. The targeted total capacity of the project will reach 174 MW, being able to supply up to 85,000 households with electricity per year. This will be the first Ignitis Renewables project to use tracker technology, which automatically tracks the sun's movement, increasing the production efficiency of the sun panels, resulting in more electricity being generated.
The initial construction phase of the project is scheduled to start later this year, with commercial operation scheduled for 2026.
Expanding portfolio of solar projects
Ignitis Renewables' portfolio of solar parks in Latvia currently consists of two solar parks already under construction – the 94 MW Varme solar project in Kuldiga municipality and the 145 MW Stelpe solar project, which consists of two separate sites in Stelpe and Barbale parishes in Bauska municipality. The completion and commercial operation of these solar parks is planned for 2025.
The current investment in the development of solar projects by Ignitis Renewables in Latvia is estimated at around EUR 284 million, which includes both construction and project development costs. Over the next few years, the Ignitis Group plans to invest a total of around EUR 700 million in Latvia. The majority of the investment will be in renewable energy projects.
Emphasis on support for local communities and environmental protection
For Ignitis Renewables, sustainable and close cooperation with local communities in the vicinity of renewable energy projects under development is essential. The company implements cooperation and support programmes with local communities when developing renewable energy projects. This year, Ignitis Renewables support programme is also available in Latvia, providing financial support to projects and initiatives of local communities and organisations.
'Ignitis Renewables cannot implement renewable energy projects without working closely with local community organisations, building relationships based on mutual understanding and trust. Cooperation with local communities is the foundation of Ignitis Renewables' sustainable development. We are committed to ensuring that Ignitis Renewables' renewable energy projects add value to local communities and businesses, as well as to the region as a whole' said Baiba Lace, Head of Ignitis Renewables in Latvia.
In addition, Ignitis Renewables, alongside the construction of renewable energy projects, is implementing a major environmental programme to reduce the impact on local populations, wildlife and the overall landscape. This approach underscores Ignitis Renewables’ commitment to environmental protection in renewable energy development.
Source: Ignitis Renewables
