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Luminor Bank has granted €3.64 million to three local energy companies for three medium-scale battery energy storage systems in Latvia's Kurzeme region. These systems will be integrated into existing solar parks in Tukums and Kuldīga, enhancing their efficiency and grid stability.

The funding will support the installation of modern energy storage facilities, enabling better management of electricity supply and demand. The projects align with EU environmental standards and aim to increase the share of renewable energy in Latvia, projected to reach about 20% of total electricity by 2029.