Cornerstone was laid for Utilitas Wind’s Lode hybrid park

The cornerstone was laid today for the Lode hybrid park near the Estonian–Latvian border, which will start producing electricity in 2028. The park is expected to generate 330 GWh of electricity annually, enough to cover the annual electricity consumption of more than 110,000 households.

Located near the village of Lode in Valmiera Municipality, the hybrid park will combine 18 modern Vestas wind turbines, each with a capacity of 6.5 MW, and a battery energy storage system with 60 MW of power and 240 MWh of storage capacity. The park will provide clean electricity and balancing services to the Baltic power grid.

“Lode combines two things the Baltic power system increasingly needs: new low-cost electricity generation and greater flexibility. Onshore wind is one of the most affordable ways to add new generation capacity, while battery storage allows us to respond more effectively to changes in both production and demand. With 330 GWh of annual electricity generation and 240 MWh of storage capacity, Lode will make a meaningful contribution to the Baltic electricity market from the moment it starts operating,” said Renārs Urbanovičs, Member of the Management Board of Utilitas Wind SIA.

Chairman of the Valmiera Municipality Council Jānis Baiks added that the expansion of wind energy production in Latvia is of strategic importance. “The growing demand for electricity and the local impact of global crises on energy prices both underscore the importance of domestic energy generation. With the development of Utilitas Wind’s Lode hybrid energy park, Valmiera Municipality is strengthening its role in enhancing energy security in Latvia and the Baltic States. The more electricity we can generate ourselves, the less dependent we are on others, and the more resilient our energy system becomes,” said Baiks.

The project is financed by SEB Pank, Swedbank and OP Corporate Bank. According to Joosep Kadak, Head of Corporate Banking at SEB, which arranged the syndicated loan, the market is clearly moving towards hybrid solutions. “Until recently, we mainly saw standalone solar, battery or wind farms, but storage is now increasingly being added to these projects. Hybrid projects are stronger because they help mitigate the risks associated with fluctuations in renewable energy production and electricity prices, while also supporting the flexibility of the wider energy system. From a bank’s perspective, we see that competitive electricity prices and security of supply are also becoming increasingly important factors in industrial investment decisions. This is why we believe hybrid solutions will become the new standard for renewable energy projects, both as standalone developments and as part of industrial sites,” Kadak said.

The access and connection roads to the hybrid farm will be built by Verston Eesti OÜ, electrical works will be carried out and cables will be installed by Connecto Latvija SIA, and AIMASA SIA will be responsible for the wind turbine foundations. “Projects of this scale demand precision, professionalism and close cooperation between everyone involved. Our goal is to deliver safe, high-quality foundations for a long-term investment that will contribute to energy production in Latvia and the wider Baltic region for decades to come, said Sandris Apsīts, Chairman of the Board of SIA AIMASA.

The Lode park will be connected to the Latvia-Estonia 330 kV power line and will directly contribute to the energy security of both Latvia and Estonia and support the transition to clean energy throughout the region. The project has received support for cross-border renewable energy projects within the framework of the Connecting Europe Facility (CEF) Energy programme.

Watch video from the event here: https://youtu.be/jS1_8DE2fw0
Photo gallery: https://utilitas.ee/en/picturebank/lode-wind-farm-cornerstone-event/