Financing of Latvia’s largest standalone solar PV plant

Ellex in Latvia has advised NORD/LB, one of the largest commercial banks in Germany, on the construction bridge financing of the largest standalone solar PV project in Latvia.

The 121 MWp project is being developed by SIA Baltic Biorefinery Group, with Green Genius serving as the sponsor, EPC contractor and long-term operator. The project is expected to reach operations in 2025.

The project was led by DLA Piper, while Ellex acted as the Latvian legal counsel. The Ellex team consisted of associate partner Marta Cera, senior associate Anna Mišņeva and associates Gabriela Fomina and Ineta Kaņepe.