Largest single-company power purchase agreement signed in Latvia

2023 - 09 - 19

SCHWENK Latvija has entered into a long-term power purchase agreement with PV Power, a joint venture owned by AJ Power, BaltCap Infrastructure fund and AJP Capital Solar Core Plus fund.

On 15 September 2023 a solar power plant with a total capacity of 6.5 MW was commissioned in the city of Brocēni, Kurzeme region.  It is planned that this power plant will produce more than 6,000 MWh of green electricity per year and will provide approximately 4,5% of SCHWENK Latvija’s annual electricity consumption. The electricity generated at Brocēni will reduce the company’s environmental impact by more than 1,600 tonnes of CO2 emissions annually. The agreement signed by SCHWENK Latvija is currently one of the largest single-company power purchase agreements for green electricity in Latvia.

COBALT Partner and Head of Energy Practice Group Gatis Flinters and Senior Associate Mārtiņš Tarlaps advised SCHWENK Latvija in negotiations regarding the design and construction of the solar power plant and entering into the agreement with PV Power.

SCHWENK Latvija is part of the SCHWENK Building Materials Group, the oldest family-owned building materials company in Europe and a leader in innovation.