“Luminor Bank” granted a 6.5 million euro loan for the construction of a solar power plant in the Cēsis region

The bank states that a total of 12 million euros will be invested in the project.

The power station will be located in “Purmaļi” of Priekuļi parish of Cēsi county. The project will be implemented on an area of ​​23 hectares. The power station will have a capacity of 19 megawatts (MW) and will have more than 33,500 solar panels on its territory. It is planned that the relevant solar power plant will be put into operation this summer.

Experts from the company “Saules Energy” were hired for the implementation of the project.

“The Merito fund plans to invest a total of 50 million euros in the creation of eight new solar power plants in the regions of Latvia,” says Mikus Janvars, co-founder and managing partner of “Merito Partners”, adding that last year together with the company “Saules Energy” he implemented the construction of four plants in Zilupe, Brengulis , Inčukalni and Carnikava with a total capacity of 25 MW.

This year, the foundation plans to implement the construction of four solar power plants. The eight new power plants will produce a total of at least 70,000 megawatt-hours (MWh) of electricity per year.

“Merito Management AIFP” belonging to “Merito Partners” is a manager of alternative investment funds registered with the Bank of Latvia.

“Merito Partners” was registered in June 2022, and its share capital is 500,000 euros. The owners of the company are Aigars Kesenfelds (76.92%), Mārtiņš Baumanis (11.83%), Mikus Janvars (5.92%), Jānis Pizičs (2.96%), Laila Hartmane (1.18%) and Vairis Dmitrijevs (1.18%).

It has already been announced that last year, according to preliminary data, “Luminor Bank” worked in the Baltic States with a profit of 194.7 million euros, which is 56.1% more than in 2022.

A branch of “Luminor Bank” operates in Latvia. In terms of assets, the Latvian branch of “Luminor Bank” is the fourth largest bank in Latvia. The bank is controlled by the US investment company “Blackstone”.