New European Solar Farms Increase Solar Capacity by More Than 230MW

Two European countries, Latvia and Poland, have secured permissions to develop brand new solar farms which collectively will generate 232MW of solar energy. In Latvia, European Energy have secured a project which will generate 115MW. In Poland, PAD RES have secured an agreement for two sites which will generate 117MW.

The Latvian project is scheduled to be fully operational by 2025. Once complete, it will be one of the largest solar photovoltaic projects in the country.

Alnis Balnis, Head of European Energy Latvia, commented on the development, “with its high capacity, the green power generated in Broceni will significantly contribute to our nation’s energy grid, catalysing Latvia’s shift towards a greener economy while positively impacting the electricity market in the long run.”

They go on to add, “as we continue to expand renewable energy infrastructure, we envision a stronger impact on our economy and energy security, ultimately benefiting citizens through reduced electricity and heating costs.”

The developers in Poland have yet to confirm a projected date to be fully online. However, it will be subsidised by the Polish Development Fund (DFR), which will provide 240M Zloty (approximately 54M Euros) for the projects, located in the Pomeranian region.

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PAD RES, the developers of the solar photovoltaic installation, had said the farms themselves will cover an area of about 140 hectares.

Michal Pryca, Chief Financial Officer at PAD RES, said: “we are confident that our cooperation with PFR will strengthen our position in the market. We recently announced the launch of two new investments in the Pomeranian Voivodeship, and now we are pleased to disclose that they have received PLN 240m in financing from PFR.”

They go on to add, “we are very grateful for this trust and believe that through our partnership with PFR, we will not only expand our portfolio but also contribute to the further development of the renewable energy sector in Poland”.

Both developments will add to the overall EU net zero targets, something which has been a point of contention for some EU members states. Brussels has requested each of them to provide fully transparent plans for their transition to renewables. Based on their GDP, each nation is expected to detail and put into action clear and achievable pathways to reach net zero by 2030.

Detailed in last week’s news article, only 8 EU member states are currently on track to meet these targets. These new developments in Poland and Latvia should help contribute to the EU’s overall target for reaching net zero.

Source:

https://renews.biz/87611/european-energy-to-build-115mw-latvian-solar-farm/

https://renews.biz/87609/pad-res-secures-54m-for-two-polish-solar-farms/