Latvijas Finieris factory in Rēzekne will also be powered by solar energy

This autumn company Latvijas Finieris opened a solar panel park at its subsidiary VEREMS in Rēzekne District. 3600 bifacial solar panels have been installed in an area of approximately three hectares. The energy produced is planned to be partially used for operating the factory, thus significantly decreasing the company’s dependency on external energy suppliers.

With a capacity of 2000 kW the new solar park can produce about 2000 MWh of electricity per year, which will be used to fulfil part of the self-consumption needs of the factory. This solution not only raises the energy efficiency of the factory, but also significantly boosts the company’s competitiveness, especially in terms of sustainability. According to Zinaīda Lovnika, Chair of the Board of VEREMS, the solar park will help the company further implement the principles of sustainable manufacturing which is highly appreciated by the company’s customers in more than 50 countries around the world.

Various modern technologies have been used in the construction of the solar park, such as adjustable panel mounts adapted to the terrain, as well as 55 lightning rods to ensure safety. This is the fourth solar park built by the Latvijas Finieris group, and it is an integral part of the company’s broader sustainability strategy. Solar energy is also harvested at the plywood factory in Kuldīga, at the Likmere plywood factory (in Lithuania) and at the Troja plywood processing plant.  

Investments in the project have totalled EUR 1.6 million, of which EUR 456 000 was provided by the Recovery and Resilience Facility. The solar panel park project is a phase of VEREMS’ development strategy which will help nearly double the factory’s plywood production capacity and create more than 70 new jobs in the Latgale region over the course of the next couple of years.

The solar panel park at VEREMS is also an important investment in strengthening national energy security by reducing the company’s dependency on external energy sources. Jānis Irbe, Parliamentary Secretary of the Climate and Energy Ministry, emphasises that use of renewable energy by manufacturers strengthens not only their own energy independence, but also national energy security. Such projects are especially important for exporting companies for whom stability and independence from energy imports boosts their competitiveness.

As the company itself explains, the manufacturing of birch plywood is an energy intensive process where thermal energy is consumed for the hydrothermal processing of round timber and veneer drying, while electric power is consumed in operating processing equipment, and fuel is consumed by industrial machinery and vehicles. Energy is also needed for other operations of the group. Therefore, the company is making strategic efforts to reduce its environmental impact in all aspects and processes of its operations. 

In addition to saving energy, the company is also implementing a range of other resource-saving measures, including reusing water and responsibly recycling manufacturing by-products or using them as much as possible in other processes. Thus, the creation of solar parks is just one of the company’s many sustainability initiatives aiding the consistent reduction of greenhouse gas emissions and natural resource consumption.

The leading European manufacturer or birch plywood, Latvijas Finieris is an international business holding head-quartered in Riga with factories in Latvia, Lithuania, Estonia, and Finland. In addition to manufacturing plywood, Latvijas Finieris also operates in forestry, timber harvesting, chemical industry, engineering, and metal processing making it a multi-sector holding with a significant role not only in the local, but also the international market.

In 2023, the turnover of Latvijas Finieris business group reached EUR 404 million which was a 15% increase over the previous year. The group’s export market consists of 56 countries, and its products branded as Riga Wood are highly valued throughout the world.