SCHWENK Latvija invests in the introduction of RES technologies

Within the framework of of the measure 1.2.1.2.i.1. “Increasing energy efficiency in business (including the transition to the use of renewable energy technologies in heat supply)” of investment 1.2.1.2.i. “Increasing energy efficiency in business (including the transition to the use of renewable energy technologies in heat supply and research and development activities (including bioeconomy))” of 1.2. reform and investment direction “Improving energy efficiency” of European Union Recovery and Resilience Mechanism Plan

SCHWENK Latvija will promote the independence of the energy resources necessary for the company by creating a solar panel power station on the territory of the Brocēni cement plant with a total active power of inverters after connection installation of 5.0 MW (installed capacity of solar panels – at least 6.3 MW). The solar panel power plant is planned for partial self-supply of the plant, where in normal operating mode 98% or more of the electricity produced by this plant is expected to be consumed in the plant itself. After the completion of the project in the first 12 months after the installation and commissioning of the solar panel system, incl. connection to the AST network, it is planned to produce at least 5652 MWh of electricity, thus achieving a reduction of greenhouse gas emissions by at least 616.07 tons of CO2 per year.

As a result, after investing in renewable energy technologies, the company will be both more sustainable and competitive, as well as reduce the impact of external factors in energy resources procurement.

On January 10, 2024, the company concluded an agreement with Nord Solar SIA for the construction of a solar panel power plant, while on May 14, 2024, a loan agreement No. 078980/01 on the issuance of a loan for the implementation of the project with the conditions of applying the capital discount.

Total project costs: EUR 4,125,547.38 (of which direct costs – EUR 3,409,543.29)

European Union funding (in the form of a capital discount): EUR 1,003,480.25

Duration of project implementation: 01.2024–08.2025.

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