SIA Utilitas Wind, a renewable-energy developer and operator, plans to start electricity production at the Lode hybrid park in 2028, the company told the LETA news agency. A capsule was laid at the site in Valmiera municipality during a ceremony on Friday.
The park will comprise 18 wind turbines and a battery energy storage system with 60 megawatts of power. Annual output is expected to reach about 330 gigawatt-hours, more than a year’s electricity use for 110,000 households.
The battery system will have a capacity of 240 megawatt-hours and is intended to support balancing across the Baltic electricity grid. The park will be connected to the Estonia–Latvia 330 kV interconnector and has received support under the Connecting Europe Facility Energy programme for cross-border renewable-energy projects.
SEB banka, Swedbank and OP Corporate Bank have issued loans for the project. Investment is planned at about 200 million euros.
Firmas.lv data show that Utilitas Wind had turnover of 870,000 euros last year and a loss of 278,531 euros. The company was registered in 2022 with share capital of three million euros and is owned by Utilitas Wind, registered in Estonia.