Energy company Latvenergo said February 18 it is investing heavily in battery systems with the stated intention of becoming the the Baltic market leader in battery energy storage systems (BESS).
The innovations and infrastructure of Latvenergo will not only strengthen the security of supply but also the development of the Baltic region.” BESS, or Battery Energy Storage System, is a technology that allows electricity to be stored with the objective of feeding it back into the grid at times of peak demand.
"Future projects will be carefully evaluated to strategically deploy storage capacities across the Baltic states in order to maximise the benefits for the security of supply and customers," the company added, giving a broad hint that it will also be looking to place BESS assets in Estonia and Lithuania.
Therefore, in the generation portfolio of Latvenergo, alongside hydro power plants (installed capacity ~1550 MW), combined heat and power plants (~1050 MW) and solar and wind capacities under development, we planned to build a BESS which will ensure synergy with the generation and sales portfolio of Latvenergo.
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