It is the first electricity purchase agreement (PPA) solar panel project of its size in Latvia and was made possible with the help of a loan worth 170,000 euros from the ALTUM financial institution. It was implemented in cooperation with the energy company group AJ Power.
Within the framework of the project, 720 solar panels with a total system capacity of 259 kW have been installed in Amatciems, a gated private residency complex. It is estimated that during the year the panels will produce 256.6 thousand kWh of green energy or 17% of the electricity needed by the village. The installed solar park will also reduce CO2 emissions into the atmosphere by 100.7 tonnes per year, equivalent to 500,000 kilometers by car.
The project has been implemented using the Energy Service Company (ESCO) model and the project has been funded by the ALTUM Energy Efficiency Program. Under it, companies, including ESCO companies, can receive loans of up to 2.85 million euros for energy efficiency, green buildings, sustainable transport and renewable energy projects.
“The ALTUM Energy Efficiency Loan Program promotes the use of energy-efficient equipment and renewable energy in companies of all calibers, while the investment in improvements is paying off in terms of project savings. This is already proven by many projects funded by this program throughout Latvia. The Amatciems project is another good example of how ALTUM can promote sustainable, environmentally friendly and economical projects, where households also benefit. We see potential for the implementation of similar projects elsewhere in Latvia, moreover, “green” financing and cooperation with ESCO companies allow to implement such initiatives also for companies that do not have the necessary knowledge and investments,” said Reinis Bērziņš, Chairman of the Board of ALTUM.
The implementation of the Amatciems project was ensured by the group of energy companies “AJ Power”, which implemented a full service solution, starting with attracting financing, project preparation and implementation. The service provider is also responsible for the operation of the power plant, its maintenance and guarantees.
“Amatciems solar panel park is currently an absolutely unique project of this type in Latvia... Adapting the hillside to the project is an innovative solution, because during the construction work we used previously unused techniques to adapt to the work in such a steep place,” said Roberts Samtiņš, head of the energy company AJ Power.
The project has also successfully participated in the competition "Sustainability in Architecture, Construction, Design 2021" and won recognition in the category "The Most Sustainable Project".
“We use the energy produced by the solar panel power plant to provide self-consumption for the population. The economic benefits are already visible, as green electricity is received at a favorable, fixed tariff, allowing you to save every month. In addition, if all the green electricity produced by the solar panels is used in the facility, it is free of additional costs, as you do not have to pay for the distribution network,” said Aivars Zvirbulis, the developer of the private village Amatciems, the largest private village in Latvia.
