European renewable energy provider SUNOTEC has completed the purchase of SIA DSE Lazas Solar’s solar and energy storage project in Latvia from Danish Sun Energy.
This acquisition will pave the way for the construction of a new photovoltaic (PV) solar power plant with a capacity of 400 megawatts peak (MWp) and an additional 600 megawatt hours (MWh) of battery energy storage system (BESS).
The project is anticipated to be grid-connected and fully operational by March 2027, with Danish Sun Energy contributing development expertise, such as in permits, licenses and comprehensive design and engineering solutions.
The project site, situated in the Cīrava Rural Territory within Dienvidkurzeme municipality, includes the construction of the Padure 330kV substation connecting it to Latvia's national grid via high-voltage lines.
The estimated investment for the combined solar and BESS park is up to €245m ($288m).
The first phase of the project secured its ready-to-build permit in June 2025, with construction to commence towards the end of the year.
In collaboration with the AS Augstsprieguma tīkls, a Latvian transmission system operator, construction will begin on the new substation near Padure in July.
SUNOTEC executive chairman Kaloyan Velichkov 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.”
The single-axis tracker systems will support the installation of solar panels at Lazas Solar Park.
These trackers allow panels to pivot east-west directions throughout the day, enhancing electricity production by 11% annually compared to traditional fixed-position installations.
Through this merger and acquisition transaction, SUNOTEC assumes full ownership over SIA DSE Lazas Solar shares — integrating substantial energy generation capabilities into its portfolio by March 2027.
Advisory services were provided by law firm Sorainen and consultancy KPMG Latvia. Power purchase agreement advisors were OurNewEnergy during negotiations on behalf of Danish Sun Energy.
Danish Sun Energy partner and CEO Carsten Tilm stated: “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, where we design, engineer, procure and construct turnkey solar and battery storage projects for our clients, which we are also very active in.”
