The companies in question are Madonas EKO, Eiro-Āzijas investīciju aģentūra, EVOKEM, M Parks, and Eco Latvis.
Ašeradens said the licenses were pulled as the companies did not produce enough energy and violated green energy laws.
"It's effective immediately. The decision texts have been sent [to the companies]," said Ašeradens.
This means the ministry has pulled eight licenses in total. In 2016, there were 198 such plants in Latvia, according to data by the Central Statistics Office.
The Economics Ministry says the move will save taxpayers up to €158 million in mandatory purchase component payments in the next decade.
The news comes after revelations companies had upheld their green energy operating licenses by fraudulent means.
As reported, Andis Pinkulis, the board chairman of Sadales Tikls power distribution operator, quit his post after Ašeradens suggested he might bear responsibility for the allegations.
As previously reported by LSM, the scandal broke into the mainstream after investigative journalism show Nothing Personal suggested that in some cases energy production classed as ''green'' was in fact coming from mobile generators.