Wedoany.com Report-Jul. 13, European renewable energy provider SUNOTEC has finalized the acquisition of SIA DSE Lazas Solar’s solar and energy storage project in Latvia from Danish Sun Energy. This transaction enables the development of a 400-megawatt peak (MWp) photovoltaic solar power plant and a 600-megawatt-hour (MWh) battery energy storage system (BESS) in Cīrava Rural Territory, Dienvidkurzeme municipality.
Image of a co-location project by SUNOTEC.
The project, expected to be fully operational and grid-connected by March 2027, will feature a new Padure 330kV substation linking to Latvia’s national grid via high-voltage lines. Danish Sun Energy will provide expertise in permits, licenses, and comprehensive design and engineering solutions. The total investment for the solar and BESS project is estimated at up to €245 million ($288 million).
The project secured its ready-to-build permit in June 2025, with construction set to begin by year-end. In collaboration with AS Augstsprieguma tīkls, Latvia’s transmission system operator, work on the Padure substation will commence in July 2025. The solar park will utilize single-axis tracker systems, allowing panels to follow the sun’s east-west movement, increasing annual electricity output by 11% compared to fixed-position systems.
Kaloyan Velichkov, SUNOTEC’s Executive Chairman, stated: “This acquisition marks a pivotal step in expanding our strategic footprint in Northern Europe and is continuation of SUNOTEC’s investment in co-located renewable systems that will be critical on the way to achieving future of clean energy, energy security, flexibility and electrification. The Lazas solar park combines scale, storage and grid-ready infrastructure – exactly the kind of project that reflects SUNOTEC’s commitment to accelerating the energy transition with speed, precision, and long-term sustainable impact.”
Carsten Tilm, Partner and CEO of Danish Sun Energy, commented: “We saw the opportunity for developing solar projects in Latvia in early 2021 and commenced development of two projects to obtain all permits and licences. After having completed the first divestiture of a 265MWp PV solar plant with Latvian state-owned utility Latvenergo in November 2024, we have now completed the second utility-scale project at the ready-to-build stage on the PV solar and BESS side. The completion of this large-scale project highlights DSE as a leading greenfield developer across several countries and augments the growing EPCM [engineering, procurement and construction management] business wielding expertise in design and construction.”
SUNOTEC now fully owns SIA DSE Lazas Solar, integrating significant energy generation capacity into its portfolio. Advisory services were provided by Sorainen and KPMG Latvia, with OurNewEnergy advising on power purchase agreements for Danish Sun Energy. This acquisition strengthens SUNOTEC’s commitment to sustainable energy development in Northern Europe.
