📋 Tender Overview
Project ID: 55542
Status: Exploratory
Location: Latvia
Business Sector: Energy
Notice Type: Private
Project Description
The Project involves the development, construction, and operation of a solar PV portfolio comprising four solar power plants (SPPs), with a total capacity of 325MW in Latvia. The Borrower, Sunly Holding 2 SIA, is a limited liability company incorporated in Latvia specifically for holding the respective Project SPVs. Sunly Holding 2 SIA is fully owned by Sunly AS (Sunly), a renewable energy developer and independent power producer based in Estonia, operating across the Baltic countries and Poland.
Project Objectives
The Project will contribute to climate mitigation by adding 325MW solar generation capacity to Latvia's national energy system. Renewable energy is critical to Latvia's commitment to achieving climate neutrality by 2050. The additional capacity to Latvia's grid will enable the Project to accelerate the expansion of the country's solar sector, complementing existing hydropower generation by providing peak output during the summer months. Importantly, the Project will also foster greater private sector participation in a market largely dominated by state-owned entities.
Transition Impact
ETI score:67
Project contributes to the Green Transition Quality by increasing the share of renewable energy in Latvia's energy mix. It also supports the Competitive Transition Quality by enhancing market liquidity, as all of the generated electricity will be sold on the local electricity market without reliance on any support scheme.
