Construction of solar power plant Zilupes SES started in 24 April and is expected to be completed by end of June 2023. Plant is located at the entrance of Zilupe, the farthest east town of Latvia.
Zilupes SES is one of the nine new solar power plants developed by Saules Energy and financed by Merito Sustainble Energy Fund I. The 50 million euro green investment in the economy in Latvia is a shared effort of Merito and other financial instutions.
The new power stations will produce at least 70,000 MWh of electricity per year, thus supplying green energy to more than 35,000 households throughout Latvia.
About the project developers Merito Partners is a rapidly growing private investment company operating in Latvia and the surrounding region. Currently it focuses on private equity and renewable energy investments on behalf of local investors.
Merito Management AIFP, 100% owned by Merito Partners, is registered with the Bank of Latvia as a manager of alternative investment funds.
Saules Energy is a developer of renewable energy projects with a mission to make profitable GreenTech investments and serving the wider society. Saules Energy collaborates with leading manufacturers and engineers worldwide to make renewable energy available in regions where it is not widespread enough.