Cobalt has advised Schwenk Latvija on its long-term power purchase agreement with BaltCap Infrastructure fund and AJP Capital Solar Core Plus fund joint-venture PV Power.
The power plant at the core of the agreement was commissioned on September 15, 2023, has a total capacity of 6.5 megawatts, and is located in the city of Broceni, Kurzeme region. It is scheduled to produce upwards of 6,000 megawatt-hours of green electricity per year and provide approximately 4.5% of Schwenk Latvija’s annual electricity consumption.
According to Cobalt, "the electricity generated at Broceni will reduce Schwenk Latvija's environmental impact by more than 1,600 tons of carbon dioxide emissions annually. The agreement signed by Schwenk Latvija is currently one of the largest single-company power purchase agreements for green electricity in Latvia."
Schwenk Latvija is part of the Schwenk Building Materials Group, the oldest family-owned building materials company in Europe and a leader in innovation, according to the firm.
The Cobalt team included Partner Gatis Flinters and Senior Associate Martins Tarlaps.
