Baltic Block has invested more than two million euros in the creation of a solar power plant in the Madona region
Baltic Block has dedicated over two million euros to establish a solar power plant, aiming to reduce carbon emissions significantly while generating a portion of its energy needs.
The company "Baltic Block" has invested over two million euros in a solar power plant located in the Madona region of Latvia. This initiative is expected to help the company reduce its carbon dioxide emissions by approximately 218 tons annually. The energy produced by this solar plant will primarily be used for their manufacturing processes, demonstrating a commitment to sustainable energy practices. Currently, 65% of the company's electricity needs are sourced from a cogeneration plant, 9% from the new solar power station, and the remaining 26% from external suppliers.
The project, executed by Baltic Block's subsidiary SIA "Betula Premium", has also received significant support through European Union funding under the "NextGenerationEU" program, covering approximately 29% of the project's total costs. This investment aligns with Latvia's National Development Plan for 2021-2027, showcasing a wider commitment to enhancing renewable energy production in the country. As the solar plant becomes operational, Baltic Block anticipates an increasing share of its energy needs being met by its own generated electricity.
By moving towards greater energy independence and sustainability, Baltic Block is not only contributing to Latvia's green energy transition but is also positioning itself competitively within the manufacturing sector. This project reflects a growing trend among local businesses in Latvia to invest in renewable energy sources, ultimately supporting the country’s targets for reducing greenhouse gas emissions and fostering sustainable development.