Yesterday, our CEO Christian Byhmer and Head of Business Development Fredrik Brolin visited the sites for our two upcoming BESS projects in Latvia, each with a planned capacity of 14.99 MW.
The picture is from the substation that will serve as the grid connection point for one of the projects. Grid connection is one of the most decisive factors in any battery storage project, and walking the planned interconnection in person is part of how we prepare for the next phase.
Both projects are advancing through late-stage development, with commercial operation targeted for Q1 2027.
Why Latvia? In February 2025, the Baltic states disconnected from the Russian BRELL grid and synchronized with the Continental European system. Overnight, the region became responsible for maintaining its own frequency stability. The result has been a structural surge in demand for ancillary services and one of the most volatile day-ahead price environments in Europe.
That volatility is precisely what powers BESS revenue through arbitrage and balancing services. The Baltics are one of our core markets, and Latvia is exactly the kind of high-flexibility-demand environment where our vertically integrated approach to BESS is built to perform. Battery storage strengthens grid resilience and energy independence at the same time as it generates returns.
More updates as the projects progress.
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