AKSEDO Signs Development Agreement for 600 MW Hybrid Electricity Parks in Latvia

This summer, SIA AKSEDO concluded a long-term development services cooperation agreement with one of the world's largest wind power plant manufacturers to develop hybrid projects in Latvia with a total capacity of up to 600 MW. The construction of two parks is planned in the Latgale region, specifically in Jēkabpils and Līvānu counties.

In the picture: Vigars Kaktinieks – The founder of PURPLEGREEN and CEO

The two parks will be developed by two subsidiary companies of AKSEDO – PURPLEGREEN Solwin and PURPLEGREEN Solwin1. These will be modern, future- oriented hybrid parks combining solar, wind, and battery energy technologies to create an innovative power generation portfolio. Together, the planned parks will be the largest alternative energy project in Latvia and represent an important step in the country's energy transformation, promoting the use of renewable energy and sustainable development. The development services agreement is the foundation for the comprehensive planning, design, and execution phases of the SolWin 400 MW and SolWin1 200 MW hybrid solar and wind farms, ensuring their successful implementation. AKSEDO board member Vigars Kaktinieks, explaining the importance of the project, emphasizes: "Although our country does not consume a lot of electricity, we are still importers of electricity. Even in electricity production, we are largely dependent on fossil fuels, particularly gas, burned in thermal power plants. On the other hand, the European Union's setting and Latvia's long-term energy strategy for 2030 envisage a transition to alternative or green energy resources. Our planned two-park hybrid project will significantly contribute to our citizens' and economy's needs for affordable green electricity. The hybrid project will also help balance the supply of electricity, considering the peculiarities of each type of production."

Taking into account the legal framework currently developed by the Ministry of Climate and Energy of the Republic of Latvia, these projects will also be a significant benefit for Jēkabpils and Līvānu counties. The regulations on the contribution of wind farms to the local community provide for the introduction of a fee of 2,500 euros for each megawatt of installed capacity per year if the wind turbine exceeds a height of 100 m and is located 2 km away from a residential building. Support for local communities is very popular and used in many European countries. It has been proven in practice that municipalities where wind farms are built become economically stronger in the long term, contributing to the improvement of the overall business environment.

About AKSEDO and PURPLEGREEN

SIA AKSEDO is one of the leading local capital companies in the energy sector in Latvia. Under the PURPLEGREEN brand, the company focuses on the development and implementation of renewable energy projects, promoting sustainable and environmentally friendly energy production. According to the company, the cycle of renewable energy resources starts with the production of green energy in solar, wind, or hybrid parks. The resulting energy is used in the production of green hydrogen, green ammonia, or green methanol.

Until now, AKSEDO has implemented the following renewable energy projects: agricultural biogas projects in Latvia – in Līvāni, Litene, Lestene, and Skrīveru counties, which produce 5 MW of electricity and 8 MW of heat. In Croatia, AKSEDO has implemented wood cogeneration projects in the counties of Beliške, Vrpolje, and Šibenik with an electricity capacity of 6.5 MW and a heat capacity of 15 MW.

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Aksedo SIA, 40003794593
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info@purplegreen.eu

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